This programme will provide appropriate economic evidence-bases on specific issues affecting industry, enabling them to respond in an informed manner. The format of our analysis and evidence bases will be tailored appropriately to the correct audiences.
Availability of robust, up-to-date economic analysis and evidence is essential for business owners and policy makers to make informed decisions, that will ultimately help improve the profitability of UK seafood businesses.
Seafish economic advice is dependent on business performance and industry structure data. This programme will build upon the outputs of our Data Collection programme, to generate high-quality UK fleet and processing sector economic performance analyses. This will indicate which parts of industry are more or less profitable, and highlight the drivers of higher or lower profit with an emphasis on making those outputs accessible to a wide audience.
Outputs will also include economic impact assessments of fisheries management options, for example, impacts of possible Council outcomes. We will enhance our outputs both analytically (increased focus on economic and business issues), and visually (infographics, web-based data visualisation tools). We will undertake specific ad hoc studies on emerging economic issues that arise during the next Corporate Plan life cycle.
The Landings Obligation is the key fisheries management challenge, which will require economic analysis and evidence for sound fisheries management and regional discards plans. We will increase our work on this issue, and also undertake a comprehensive UK-wide (fleet, processing, aquaculture) input-output multiplier study. This will provide quantitative estimates of the contribution of these sectors to the overall economy. This study will provide the necessary evidence base to demonstrate the economic importance of the UK seafood sectors compared to other sectors, for example sea angling.