Icelandic government announces distribution of mackerel subsidies despite minister’s intentions to halt payments

A total of 17,634 tons of mackerel, valued at approximately 50 million Icelandic krónur in direct subsidies and 100 million krónur in payout value, will be distributed to trawlers, shrimp vessels, longliners, and gillnetters according to an announcement made on July 19 of this year.

This distribution occurs despite the Minister of Fisheries, Dennis Holm, stating since his arrival in office that he intends to halt mackerel subsidies for vessels that do not catch mackerel. However, he now acknowledges there is no political majority for this change.

For further insights, a conversation with Dennis Holm can be heard here.