Coronavirus: Isle of Man fishing industry support could be extended

The value of fish and shellfish had dropped by up to 50% since the start of the pandemic

The fishing industry on the Isle of Man could receive an extra £250,000 in support to keep businesses afloat in the wake of Covid-19.

Grants designed to help fishing boat owners and seafood businesses will be extended until November, subject to Tynwald approval.

Environment Minister Geoffrey Boot said the money would "aid those who otherwise might not survive".

There has been a sharp fall in the value of first-sale fish since March.

The fishing industry is worth about £20m to the island's economy annually.

Mr Boot said the government "must do all we can to help it weather this storm".

He said local seafood markets, "that are predominantly export-based, remain significantly depressed" and the "much-needed support" was vital to protect the long-term viability of the fishing industry.

Prices paid for first-sale fish have fallen by up to 50% and queen scallops by 40% since the start of the pandemic.

Initially approved in April, the scheme was originally extended until 31 August.

If politicians approve a further extension, payments to fishing vessel owners would continue until 3 November, while seafood businesses would be supported until 24 November.