Overview

• Labour’s May Brexit reset guarantees EU fishing access to UK waters until 2038.
• A DEFRA memo cites 2023 EU landings from UK waters worth £400m–£500m, with about 1,500 EU vessels licensed and roughly 17% of EU catch volume coming from the UK EEZ.
• Media extrapolations put the 12‑year value to the EU at up to £6bn, which industry figure Mike Cohen calls a fair and realistic estimate.
• The government labels the £6bn number a made‑up projection, pointing to annual quota negotiations and touting wider trade links it says could add £9bn to the UK economy by 2040.
• Political pressure escalates as Nigel Farage pledges to scrap the deal if elected and Labour’s Stella Creasy joins Reform UK’s Richard Tice in urging a new Brexit scrutiny committee.