Fisheries, Aquaculture and Rural Development Minister Neil LeClair today announced a new five-point plan aimed at stabilizing the lobster industry and expanding markets for lobster products. The plan was developed in consultation with the federal government and the industry to address the current challenges facing the lobster fishery.
“The five-point plan which has been developed is a strong statement to the lobster fishery that prices will stabilize and that the marketplace will demand our world class products,” said Mr. LeClair in a statement to the Legislature. “This industry is too important to rural Prince Edward Island and to the overall economy of this province to go forward without vision or support.”
Under the five-point plan, funding will be provided for the purchase of lobster to be held in live holding systems until it can be processed in an orderly manner, the low interest loan program will be extended and agreement will be sought with federal government partners on a $4 million product development and marketing fund. Agreement will also be sought for industry rationalization in Lobster Fishing Areas 25 and 26A. The plan also calls for flexibility in the Employment Insurance program to respond to the crisis in the industry.
The purchase of surplus canner lobster will be implemented immediately. The guidelines of the re-opened low interest loan program will be released in the near future. Mr. LeClair said he is actively seeking the support of the federal government and the industry for the remaining elements.
“I am confident we will have good things to announce in the coming weeks,” he said.
The provincial government will invest a total of $8 million in the action plan.
“This five-point plan is another example of the government’s commitment to the fishery in Prince Edward Island,” said Mr. LeClair. “It builds on the initiatives which have already been undertaken, including regulatory amendments to allow easy access for buyers and peddlars, improved communication among all sectors through the Lobster Industry Roundtable and investments in marketing at the local, regional and international levels.”