The NSW Government’s Commercial Fisheries Business Adjustment Program introduces linkages between shares and catch or effort. This will give fishers the ability to invest in their businesses with more certainty than ever before. Importantly, share linkages have been tailored to each share class.
Under the Business Adjustment Program, some commercial fishers may want to purchase more shares to secure their level of business activity, while others may choose to sell their shares and exit the industry. There is a range of assistance measures available to help industry through this transition process.
The NSW Government recently engaged an independent consultant, Neil MacDonald, to advise of issues that should be considered regarding the implementation of the Business Adjustment Program.
After consultation with commercial fishers and industry stakeholders, including the Professional Fisherman’s Association, a range of issues were identified and additional measures developed to address key industry concerns raised, including the provision of greater certainty for those fishers undergoing the Independent Allocation Panel Process. More information can be found in the full response below.