§ Mr. Wattasked the Secretary of State for Scotland if he will make a further statement on the future of Scottish fishing.
§ Mr. Hugh D. BrownAlthough many problems regarding limits and conservation remain to be solved, the Scottish fishing industry is well situated and well equipped to meet future challenges and to take advantage of new opportunities. In his statement to the House on Thursday 6th May my right hon. Friend the Minister of State for Foreign and Commonwealth Affairs outlined the Government's initiative for the modification of the common fisheriesc policy. The immediate economic situation has been improved by the sustained increase in quayside prices, which produced gross earnings in the first quarter of this year 26 per cent. above those for the first quarter of 1975. Within this total, vessels fishing herring have suffered a substantial drop in earnings due to the shortage of stocks. All vessls have encountered increases in costs, but, on average, those now fishing should be making daily profits after paying share earnings, wages, and all other operating costs.