Scotland business

Temporary fishing halt 'could be worth billions within a decade'

A temporary halt to fishing to allow European stocks to recover could generate billions of pounds of profit within a decade, it has been claimed.

A study published by the New Economics Foundation claims paying fleets not to fish for 10 years would be cost efficient and effective.

The Scottish Fishermen's Federation said the move would lead to the collapse of the entire infrastructure supporting fishing.

The SFF said there would be no benefit.

Earlier this week, the European Parliament voted for a range of sanctions against Iceland and the Faroe Islands over the long-running mackerel dispute.

The island nations have been criticised for declaring huge catches of the valuable fish in recent years, leading to fears for its sustainability.

The measures include banning the import of mackerel and other fish from both countries.

Mackerel is the Scottish fishing industry's most lucrative fishery.

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