Brexit fishing line explodes as France threatens ‘brutal retaliation’ against UK | UK | New UK News

The UK has entered into a trade deal with the EU, resulting in changes to the fishing quotas enjoyed by European vessels in UK waters. The agreement ensures that 25 per cent of the fishing rights of EU vessels in UK waters will be transferred to the UK fleet over a period of five years. After that, annual negotiations will decide how the catch will be shared between the UK and the EU, and Britain would have the right to completely exclude boats from the EU after 2026. Despite the promise of increased control fishing waters, many UK fishermen have raged as it stands, many are struggling to sell their shares in Europe.

But there is also anger in France, as the country’s European Minister Clement Beaune criticized the UK’s post-Brexit fishing deals.

He said “retaliatory measures” would be taken if the UK did not “issue licenses [and] authorization to access their waters for fishing ”.

Mr Beaune, a key ally of President Emmanuel Macron, even said the City of London could be targeted if the fishing dispute is not resolved, City AM reported.

He said, “We won’t give anything – it’s a quid pro quo.

“The UK expects a number of financial services clearances from us. We will not give any until we have assurances that, on fisheries and other matters, the UK is complying with its commitments.

“It’s give and take. Everyone must respect their commitments, otherwise we will be as brutal and difficult as necessary as partners.”

French fishermen were accused of “decimating” the Jersey coastline earlier this month as uncertainty hangs over access to the waters of the Channel Island.

The Brexit trade deal gives Jersey sole power over licenses for all boats, but French vessels with historic fishing activity in Jersey waters will continue to have access and may still outnumber the French. Jersey boats.

This arrangement replaced the Granville Bay Treaty – an agreement that was not popular with some in Jersey because it allowed French authorities to allow their own boats to fish in the island’s waters.

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Some groups, such as City’s new lobby group, CityUnited, have called on the government to drop equivalency concerns and look to other foreign financial markets instead.

Bank of England Governor Andrew Bailey recently said equivalency was the best case scenario for the financial services industry, but it wouldn’t be worth it if the UK were to be a policy taker. regulatory rules.

Mr Bailey said the UK must not become a mere ‘taker’ of EU rules adding: ‘If the price is too high, we can’t just go there’.