Very few people know that the British government gave fishing rights to a small section of the fishing industry in 1999. These public goods have, since then, been bought, sold and leased for private profit on an unofficial, non-transparent and loosely regulated quota market.
In the UK, the right to catch fish in territorial waters has traditionally been public – owned by the crown and managed by the state on behalf of the people. As fish stocks have dwindled, and under the catch limits imposed by the EU common fisheries policy, these rights to fish have become increasingly valuable and can now be leased to fishermen for substantial amounts of money.
Given this, it is somewhat shocking that very few members of the British public know that the British government freely gave these fishing rights to a small section of the fishing industry in 1999. These public goods have, since then, been bought, sold and leased for private profit on an unofficial, non-transparent and loosely regulated quota market.
Read the complete opinion piece from The Guardian.