Reforms of EU Common Fisheries Policy will make fundamental changes to European fisheries management, including a discard ban with catch quotas for regulated species and management to achieve MSY. We evaluate the impact of these changes on revenue of North Sea demersal finfish fleets and fish stocks. With no change in behaviour, revenue is reduced by a mean of 31% compared to current management in the first year, but partly recovers by year 3, as fishing mortality is reduced and stocks increase. There are large differences in revenue changes between fleets, varying from -99% to +36%, depending on whether the stock with the most limiting catch quota is a primary target and the rate at which it is caught relative to other stocks. Impacts will be greatest if catch quotas are set at current landings quotas, and reduce with an uplift to reflect current discarding levels. Large reductions in revenue create a strong incentive to avoid catching the limiting species, particularly if it is not a primary target. Selectivity changes that avoid 30% cod catch reduced the economic impact for some fleets in moving to catch quotas. Increased flexibility will therefore be important in maintaining the profitability of the fisheries.
|Number of pages||2|
|Publication status||Published - 2014|
|Event||ICES Annual Science Conference 2014 - A Coruña, Spain|
Duration: 15 Sep 2014 → 19 Sep 2014
|Conference||ICES Annual Science Conference 2014|
|Period||15/09/2014 → 19/09/2014|