The UK Government announced the £360 million Fishing and Coastal Growth Fund (FCGF) to support the fishing and seafood sectors, focusing on sustainability, profitability, and coastal regeneration over the next 12 years. The fund is designed to invest in new technology, skills, and promotion of seafood exports. Following stakeholder requests, the funding was devolved in October, granting devolved Governments full discretion over its allocation based on specific regional needs. However, the allocation method, using the Barnett formula, has led to widespread "anger and dismay" from representatives in Scotland and Wales, who argue that their small share does not reflect their huge contribution to the UK's overall catch and fishing capacity.

Key Takeaways

• The FCGF is a £360 million investment intended to modernise UK fishing fleets, build resilience, and support the next generation of fishers.
• The funding was confirmed as devolved on 20 October, allowing devolved Governments to design and deliver support tailored to the unique needs of their coastal communities.
• The allocation mechanism, the Barnett formula, has been highly controversial, with critics noting that Scotland received only around 8% of the fund despite landing nearly 50% of the catch.
• The government is currently in the co-design phase with stakeholders and local communities to determine how investment will be targeted, including supporting new entrants and modernising infrastructure.
• Opposing parties view the fund as a mere "sticking plaster" or "weak apology" following a long-term EU deal that critics claim has betrayed the fishing industry.

Discussion

Given that the fund aims for local impact and resilience, should the allocation method for the FCGF be based strictly on existing constitutional formulas (like the Barnett formula), or should it prioritize geographical factors, such as the volume/value of fish landed and local economic deprivation, to ensure fairness across the industry?

Source: Fishing and Coastal Growth Fund
Volume 773: debated on Thursday 23 October 2025

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