Denmark pays DKK 791 million in Brexit compensation

Denmark’s government has paid out DKK 791 million (USD 116.4 million, EUR 106.2 million) to Danish fishers who lost quota as a result of the U.K.’s departure from the European Union.

On 19 July, the Danish Fisheries Agency announced the completion of compensatory payouts for losses of quota value due to renegotiated fishing agreements following Brexit. The scheme is state aid approved by the European Commission and financed by E.U. funds from the E.U.'s Brexit adjustment reserve.

“The funds paid compensate the fishermen for the permanent loss of value that the reduction of their individually owned quotas has brought about,” the agency said in a press release. “The support is intended to reduce the negative consequences of Brexit and enables the fishermen to adapt to the new situation of reduced quotas after Brexit.”

In total, 157 out of 164 applications for compensation were approved. Seven applications for compensation collectively totaling DKK 7 million (USD 1 million, EUR 939,000) were rejected due to a lack of quota loss or because their applicants were not actively fishing at the time of application.

The E.U. had earmarked DKK 840.8 million (USD 123.8 million, EUR 112.8 million) for compensation to Danish fishermen, but less was awarded since some vessel-owners opted for dismantling instead of continuing to fish, and others declined because the money was conditional on the implementation of “green” initiatives designed to modernize and lessen the environmental impact of the Danish fleet.

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