Commercial licence buyout

[cobby]

That was an allocation in the budget. If I recall correctly I read it in the paper. No each fisho will not receive 2.6 mil. The do deserve a large pay out though. If you were told you can no longer work for the rest of your life, how much would you want.? There is very little work many for these guys afterwards. In the world we live in they are unskilled. They will have to either retrain or buy another business. How would you deal with it if it was you. Regarding the price of a licence. They are cheap because no one is interested in an industry that is closing. A bait fishing licence is a completely different licence. If you think that is cheap word is they will continue, so buy one and have a go. You will be broke before the end of the first year. Only one who will do bait fishing will be the ones with a shop front to sell it and it will be a minor part of their income

The people who have taken away the commercial fishers licence have a responsibility to ensure these people aren't forgotten about not that I can imagine any initiatives to occur. Re-Tyred do you know some of these folk personally? At a guess these guys would be a pretty tight knit community with inter generational family ran businesses. There will also be a flow on with workers in the co-op as well I guess? Even though theres an offshore fishery as well.

Co-op would be mostly offshore going off what I've seen at wholesale market with lefcol tags.
Either way like retyred said, most of those getting booted under false pretenses would have 20+ years before retirement age, with stuff all in the way of super/investments and minimal recognised skills for reemployment. Especially in the Gippsland area which isn't the highest concentration of employment anyway

[Kimtown]

That was an allocation in the budget. If I recall correctly I read it in the paper. No each fisho will not receive 2.6 mil. The do deserve a large pay out though. If you were told you can no longer work for the rest of your life, how much would you want.? There is very little work many for these guys afterwards. In the world we live in they are unskilled. They will have to either retrain or buy another business. How would you deal with it if it was you. Regarding the price of a licence. They are cheap because no one is interested in an industry that is closing. A bait fishing licence is a completely different licence. If you think that is cheap word is they will continue, so buy one and have a go. You will be broke before the end of the first year. Only one who will do bait fishing will be the ones with a shop front to sell it and it will be a minor part of their income

Whilst I do agree with most of your points, it's pretty narrow minded to say they are unskilled and little work for them. One of the best skills you can have is work ethic, which these guys would have in spades.
I mean, there's heaps of commericial fishing boats out of Lakes entrance, why couldn't they apply for jobs there?

[re-tyred]

Yes I do know most of them. They will not get jobs on offshore vessels unless the buy one with a quota. There isn't extra offshore vessels someone has to leave the industry for them to take over the business. No extra jobs or businesses are being created so any job the do is taken from another person. Their skills are in boating. Same as mine, I can assure you there is very little opportunity in this area. When you consider that over the last 20 years the commercial off shore fleet has reduced in numbers from approx 150 vessels to less that 50 out of lakes and in greater numbers out of other ports. There aren't jobs around.

[colnick]

It is a bit surprising that compensation terms for the buyout of Gippsland Lakes licences have not been made public.
I note that packages for Port Philip Bay buyouts were based on three factors:
*Market Value of Licence: $310,000
*Equipment Allowance: $75000 (recognising limited opportunity to sell boats, nets etc)
* Allowance for loss of income: Assessed at 3 times average annual catch value over the previous 5 years.
If Gippsland Lakes compensation is determined along the same lines we would be looking at something like $600,000 all-up?
For the reasons outlined by re-tyred and others, that doesn't seem like too big a price to pay.

[rb85]

The sad part is not every kid in coastal communities can go to uni and apprenticeships are limited. Commercial fishermen was once a realistic career choice for some not anymore.

[re-tyred]

It is a bit surprising that compensation terms for the buyout of Gippsland Lakes licences have not been made public.
I note that packages for Port Philip Bay buyouts were based on three factors:
*Market Value of Licence: $310,000
*Equipment Allowance: $75000 (recognising limited opportunity to sell boats, nets etc)
* Allowance for loss of income: Assessed at 3 times average annual catch value over the previous 5 years.
If Gippsland Lakes compensation is determined along the same lines we would be looking at something like $600,000 all-up?
For the reasons outlined by re-tyred and others, that doesn't seem like too big a price to pay.

That is low for catch value. 3 years catch including prawn and crabs $700,000 at least. Not hard to estimate approx 600 tones of fish caught between them in the last 3 years @ approx $8,000 tonne.
Not all fish for prawns but those that do average around 800 kg x 10 or so weeks each year. So 24 tonne over three years. X $15,000 per tonne.
That is $400-500,000 each for fish and $300,000+ for prawns. For some.

[re-tyred]

Under the terms of the recreational fish grant scheme. This is our licence funds. Usually used for boat ramps, fish restocking etc. This could be considered a scheme to improve rec fishing and therefore the money could be taken from the fund

[colnick]

Thanks for that re-tyred. Even as I pressed "submit" I realised that I was probably significantly underestimating catch value. The sentiments remain the same. Even at $1m per licence compensation would not be unreasonable.

[ango]

Since 2000/01, the current Gippsland Lakes Fishery Access Licence holders have taken around 200 tonnes of fish per year. The landed value of this harvest is approximately $1.1 million annually (based on data from 2000/01 to 2010/11). OK the data is a bit old but the catch is not exactly increasing as the years go by. So 10 licences, $1.1 million annual catch = on average $110,000 per licence, then costs have to be accounted for, Eg. fuel, equipment, boating & vehicle costs, etc. The licence holders have not being exactly raking in the money, have a look at the link to see the report.

https://vfa.vic.gov.au/__data/assets/pd ... ishery.pdf

https://vfa.vic.gov.au/__data/assets/pd ... ishery.pdf

Cheers
Ango

[cobby]

Since 2000/01, the current Gippsland Lakes Fishery Access Licence holders have taken around 200 tonnes of fish per year. The landed value of this harvest is approximately $1.1 million annually (based on data from 2000/01 to 2010/11). OK the data is a bit old but the catch is not exactly increasing as the years go by. So 10 licences, $1.1 million annual catch = on average $110,000 per licence, then costs have to be accounted for, Eg. fuel, equipment, boating & vehicle costs, etc. The licence holders have not being exactly raking in the money, have a look at the link to see the report.

https://vfa.vic.gov.au/__data/assets/pd ... ishery.pdf

https://vfa.vic.gov.au/__data/assets/pd ... ishery.pdf

Cheers
Ango

It was still an income. An income they paid tax on. An income they now will not be able to work for because of lies and manipulation from a bunch of whingers with vested interests.

Even after removing nets, dumping hundreds of thousands of bream, Bass and perch in for the cormorants would I personally bother spending any serious time and money fishing any part of the Gippsland Lakes system? Short answer NO. Much better locations to fish for much less money even if it's $100 extra in fuel costs