Britain has tabled a compromise on fishing that could break a deadlock over compensation if quotas for Europe’s fleet are severely cut in future.
The proposals are thought to offer more protection for existing fish quotas and offer a compensation mechanism for reductions after a phased transition.
Fishing is blocking the talks with nine days before the end of the transition period. The new offer is a significant concession to Michel Barnier, the EU’s chief negotiator. The proposals would allow the European Union to keep about two thirds of the value of fish, worth €650 million, that European boats now catch in British waters with a transition period, thought to be five years, to cushion the change. Britain’s starting offer was 40 per cent, with