Fishermen’s loan arrears
BIM fishing-loan arrears totalled £8.5 million, and the Government introduced a support package that included revised repayment arrangements. Of 262 borrowers offered the new arrangements, 115 accepted, 39 declined and 108 had not responded.
asked the Minister for Fisheries and Forestry if he will make a statement on the present situation regarding the inability of fishermen to repay their loans; and the efforts he is taking to alleviate the situation.
Comment on this
Arrears on fishing boat loans under the BIM marine credit plan totalled £8.5 million at 31 December 1984. Most of these arrears have been accumulated over a period of years.
The Government have recognised the difficulties being experienced by fishermen in meeting their financial obligations and agreed a special aid package earlier this year. The package involves the full remission of the excise duty on fuel oil used in fishing and extra funds for marketing, exploratory fishing and harbour development together with a re-vamping of loan repayment arrangements under BIM's marine credit plan, including an increased subsidy on interest rates for a three year period. BIM are in the process of finalising agreements with the banks and individual fishermen for the implementation of the new loan arrangements.
Comment on this
Can the Minister give some indication of the number who have availed of the new arrangement and would he agree with the view of the fishermen's organisation that this change is totally unacceptable and not sufficient to deal with the crisis?