The Government has announced that a 'scrappage scheme', similar to that introduced on cars in the mid-1990s, will be introduced for trawlers over the next two years.
It is hoped that the scheme will see 75 trawlers removed from the Irish fleet. The scheme will see boat owners compensated for removing boats more than ten years old that have principally been used for white fish trawling from the industry. It is estimated that the cost will run to €21m each year for 2008 and 2009. The intention is to remove at least one third of the fleet.
The Federation of Irish Fishermen has welcomed the plan, saying it is the most crucial ever for the future of the industry.
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