'Diversify the industry'

He said: "I think if we could consolidate then get assistance to build new modern vessels, then in terms of carbon footprint, in terms of efficiency and quality of product, that helps the industry move on the next footing.

"There's a consequence to not having enough fish. Either businesses go out of business or the industry just starts to shut itself down because no-one has enough. One of the ways would be to have a scrap and build policy.

"There's no script out there to say what this £100m is for. I think we need to use that money in innovation to allow us to streamline our affairs, become more competitive in a sort of European and world market, and to help us diversify because the industry will need money to help it diversify."