The European Commission has approved an Irish government scheme to try to dampen the impact of rising fuel prices on the Irish fisheries sector.
It follows the European Commission’s approval of a similar scheme for farmers last week.
Under the €15 million scheme for fishermen and women, the owners of small vessels under six meters will receive a flat rate of €350.
Fishing businesses with larger boats will be able to get a rebate of up to €0.40 per litre of fuel, backdated from March and running until July.
The scheme aims to mitigate the impact of the increase in fuel prices on companies active in the primary production of fishery and aquaculture products, the European Commission said.
Since the outbreak of the US-Iran war, fuel prices have risen dramatically.
The European Commission has decided that the government support is in line with EU state aid rules.
“The Commission found that the scheme is in line with the conditions set out in the METSAF [The EU’s Middle East Crisis Temporary State aid Framework].
In particular, aid will be granted based on a scheme with a clear estimated budget, and aid will be provided to temporarily support the development of companies active in primary production of fishery and aquaculture products.”
The European Commission concluded that the cash injection is “necessary, appropriate and proportionate to facilitate the development of an economic activity and does not adversely affect trading conditions to an extent contrary to the common interest.”