Compensation for Brexit payed out to Denmark

A total of 1.2 Billion Danish Krone has been paid out to Danish fishing operators due to the fallout from the effects of Brexit on Denmark’s fishing industry.

The deadline, which was 31st December 2023, was fully met, which was a window of three years for the payment as compensation to fishermen who on 31st December 2020 held quotas that were reduced.

The funding was paid by the EU Brexit Reserve, which totalled roughly 2 Billion Danish Krone, with DKK1272 of it allocated to the fishing sector.

Furthermore, there have been opportunities to apply for vessel decommissioning grants and this has gone to owners of 28 fishing vessels.

Brexit officially came into effect on 1st February 2020.