Fishing Vessels: Grants and Tax Allowances
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, if he list the (a) tax reliefs and (b) grant schemes to support fishing vessel upgrades to adapt to changing (i) economic and (ii) environmental conditions.
Answered by Daniel Zeichner
Alongside existing tax reliefs, we are committed to supporting fishers through targeted financial schemes that enable vessel modernisation and adaptation. Available reliefs include Annual Investment Allowance (AIA), Enhanced Capital Allowances (ECA), Fuel Duty Relief, and Capital Allowances on plant and machinery.
To further support the industry, Defra reopened the Fisheries and Seafood Scheme on 9 June 2025, allocating around £6 million to create a sustainable and resilient seafood sector. Additionally, the £360 million Fisheries and Coastal Growth Fund will secure our fishing industry for decades to come and support our coastal communities and make it fit for the 21st century.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →