Westcountry coastal communities are under threat because commercial fishing quotas have become stock market "commodities", MPs have warned.
A select committee report today criticises the Government over its management of the controversial EU allocation system that has restricted British fleets since the 1980s.
It is particularly concerned that a market allowing small fishing fleet to buy and sell "quota" has been infiltrated by traders with "no connection" to the fishing industry.
As fishermen reach limits long before allocations expire, MPs claim the current regime is the "fundamental problem" facing hard-pressed fishing communities.
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