#Budget2016 - The Seafood Development Programme will get a boost from next year's Budget, according to Marine Minister Simon Coveney.

Welcoming the €94 million in national co-funding under yesterday's Budget 2016 announcement, the minister says it will contribute, along with the allocation of almost €147 million for Ireland under the new European Maritime and Fisheries Fund 2014-2020, to enabling the launch of "new schemes" under the programme launched in March this year.

These will be "aimed at promoting the sustainable development of the seafood sector to 2020 and availing of the opportunities presented by the growing demand for seafood internationally."

Pending approval of the programme, Minister Coveney said he is "providing some €36 million to my department, the Marine Institute and BIM to fund the roll-out of capital investment schemes for the seafood sector under the programme.

"In 2016, this is expected to include the launch of a range of new investment schemes for the CFP discards ban, decommissioning scheme, sustainability in the inshore fisheries sector aquaculture development, seafood processing and Fisheries Local Action Groups."

The €36 million will come from the €103.8 million allocation for fisheries, fishery harbours and marine-related non-commercial State-sponsored bodies: the Marine Institute, Bord Iascaigh Mhara and the Sea-Fisheries Protection Authority.

Minister Coveney also welcomed the publication yesterday of the independent Marine Taxation Review, which recommends potential areas for support of this key sector through the taxation system.

“I look forward to further engagement with Minister Noonan on the implementation of these recommendations, particularly in relation to the proposed extension of seafarers tax allowances to the fishing industry; and the recommendation for appropriate tax treatment to support the fishing vessel decommissioning scheme.”