72 



COMMERCIAL FISHERIES REVIEW 



Vol. 28, No. 9 



United Kingdom (Contd.): 



The Authority welcomed Ministers' ac- 

 ceptance of the principle of a statutory mini- 

 mum prices scheme, to which much thought 

 and work were given during the year. There 

 is, however, no promise of Treasury support 

 at present. 



Loans to the Industry : Although the pro- 

 hibition of loans to large companies remained, 

 loans during the year amounted to ^697,000 

 (US$1.95 million), including L569, 000 ($1.6 

 million) forvessels andL128,000 ($358,000) 

 for processing plants. It was not possible, 

 however, to approve a number of applica- 

 tions from the inshore industry because of 

 financial stringency. Repayments amounted 

 to ^2 million ($5.6 million) and the total bal- 

 ance outstanding at the end of the year fell to 

 i.17.7 million ($49.6 million). 



New Construction : Owing to the prolonged 

 examination of the future of the Grants Scheme, 

 funds available were inadequate to meet ap- 

 plications from both the trawling and inshore 

 sections, and additional funds were provided 

 too late to affect approvals in the year ending 

 March 31, 1966. 



Only one grant was approved for a freez- 

 er-trawler during the year, but two have been 

 approved since. A grant was also approved 

 for a middle-water trawler, subsequently 

 reclassified as a distant -water vessel. These 

 grants amounted totl56,00G ($436,800). 



On inshore side, funds allowed approvals 

 of only 41 grants out of 100 applications for 

 new vessels. For new engines (although pri- 

 ority is given to this class of application), it 

 was also necessary to be selective, and out 

 of 50 applications only 30 were approved. 

 Commitments for the inshore section totaled 

 ^227,000 ($635,600) in grants and i.343,000 

 ($960,400) in loans. 



The future of financial assistance for new 

 building and improvements is bound up with 

 the policy for investment incentives. It has 

 been announced that, subject to Parliamen- 

 tary approval, the rate of grant will be 35 

 percent for vessels of 80 feet and over and 

 40 percent for vessels of under 80 feet. The 

 terms for the new grants have yet to be de- 

 cided. 



Supplies and Values : Total supplies of 

 fresh and frozen white fish in 1965 rose by 



8 percent to 900,000 metric tons, the highest 

 figure since 1953, and their value by 9 per- 

 cent to L74.5 million ($208.6 million). Land- 

 ings by British vessels rose from 719,215 

 tons in 1964 to 786,161 tons in 1965. If pelag- 

 ic species are excluded, average values re- 

 mained almost stationary, and margins were 

 accordingly squeezed by increasing costs. 



Although distant -water landings rose by 

 4 percent, and their total value by 5 percent, 

 the proportion of these landings to the total 

 supply declined slightly. Near- and middle- 

 water landings fell slightly, and the mainim- 

 provement in supply was due to a rise in in- 

 shore catches. Scottish supplies from near-, 

 middle-, and inshore -waters rose by 24 per- 

 cent by weight, but owing to heavy landings 

 of sprat, total value went up by only 9 percent. 

 Inshore catches for the United Kingdom now 

 account for nearly a third of total supplies. 

 The value of shellfish catches remained 

 steady at just under tS million ($8.4 million). 



Minimum Price Scheme and Quality Con- 

 trol: Consultations with Parliament Minis - 

 ters continued throughout the year on the jus- 

 tification for a statutory minimum-price 

 scheme, and the possibility of Government 

 financial assistance towards its operation. 

 In March 1966, it was stated that the Govern- 

 ment accepted the principle of a statutory 

 scheme and would consider a scheme on its 

 merits and in the light of international obli- 

 gations, should one in due course be sub- 

 mitted. The Government was not able, how- 

 ever, to promise any financial contribution 

 towards its cost. 



Consultations with the industry are taking 

 place on a redrafted minimum price scheme. 

 This, broadly, would empower the Authority 

 to fix minimum prices in relation to species, 

 and to ports, and areas of the coast. Guar- 

 anteed payments at levels somewhat below 

 the minimum would be made for fish of good 

 marketable quality which failed to find a buy- 

 er. These payments would be financed from 

 a levy, at variable rates, upon different classes 

 of landings. When consultations are com- 

 pleted, the Authority will decide whether to 

 proceed with the scheme and submit it for 

 confirmation. 



A minimum-price scheme requires a 

 measure of quality control to ensure that 

 only fish of an accepted standard qualifies 

 for guaranteed payments. At first control is 

 proposed only for distant -water fish, but 



