Treasurer Wayne Swan will need hundreds of millions of dollars in the forward estimates of the federal budget next week to fund Assistance to fishermen and other businesses for  cuts to  fishing grounds under a policy announced by Environment Minister Tony Burke today.

Mr Burke released a Fisheries Adjustment Policy to guide government support for fisheries as it imposes a vast network of marine reserves in Australian territorial waters out to the 200 nautical mile limit of the Exclusive Economic Zone.

The long awaited policy purports to essentially follow the principles of the Howard government era adjustment regime that led to payments to fishermen and associated businesses of almost $250 million for the 2004 rezoning of the Great Barrier Reef Marine Park.

Release of the government’s plan for marine reserves in the vast South-West Bioregion, stretching from east of Adelaide to north of Perth, is imminent.

The Government will announce plans covering the rest of Australia’s EEZ by the end of this year, with implementation of marine reserves in 2012.

“This will be a massively expensive exercise if fishers and their communities are to get reasonable compensation or structural adjustment for the inevitable constraints on fisheries,” Senator Boswell said.

“That is the experience in relation to the Great Barrier Reef Marine Park and will inevitably be the experience in relation to this vast extension of marine reserves.

“The Treasurer will have to have hundreds of millions of dollars earmarked in the forward estimates to cover these costs.

“If they’re not there then commercial fishermen should be deeply sceptical about the government’s intentions.”

ENDS