UK urged to adopt Icelandic style fishing policy post-Brexit

Jessica Morris
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A fishing vessel arrives at the harbour in Reykjav
Evidence shows Iceland's system creates harmony between parties (Source: Getty)

A Leading think tank has urged the UK to adopt an Icelandic style fisheries policy to boost sustainability post-Brexit.

The Institute of Economic Affairs wants a “tradeable quota system” —in which fishing boats are allocated a share of the annual total allowable fish to catch — which would encourage property rights similar to those on the land.

Property rights would give fishermen a long-term interest in sustainability and help the environment as stock is not plundered.

They said the EU’s Common Fisheries Policy had been “inefficient and damaging to sustainability”.