A think-tank suggests that all fishing in Europe should cease to let stocks recover. Credible plan or silly talk? Stefano Mariani tests the bait.
Would a complete ban on all fishing in Europe for up to nine years be an effective way to replenish fishing grounds?
That’s the conclusion of the report ‘No Catch Investment’ from the UK-based think tank New Economics Foundation (NEF) that looked at 54 northeast Atlantic fish stocks, 49 of which are overfished. They say that halting current overexploitation would allow fish stocks the time to recover. And that the long-term increase in their monetary value as populations bounce back (£14.63Bn per year) will offset the short-terms costs (£10.4Bn) of not fishing (compensating fisherman etc.) which they suggest should be paid for by the private sector – the people who will make the estimated £4Bn profit later – not the public purse.
Continue reading Should we stop fishing?