As part of the EU budget framework for the 2021-2027 period, the European Commission proposed in June 2018 a regulation to continue the fund dedicated to the Common Fisheries Policy and the Integrated Maritime Policy. On 4 April 2019, Parliament adopted its first reading position on the file. After lengthy interinstitutional negotiations, started after the 2019 elections, political agreement was reached on 4 December 2020. The new fund allows for more flexibility in national programmes. A greater focus on aquaculture is reflected in its inclusion in the name of the fund. A thorny issue in the negotiations was support for investment in fishing vessels, on which the co legislators wanted to go beyond the proposal. The compromise allows aid for vessels up to 24 metres long: support for the first acquisition of a vessel by a young fisherman, the replacement or modernisation of engines, and operations that improve safety, working conditions or energy efficiency. The measures come with restrictive conditions, such as the respect of fishing capacity ceilings. At least 15 % of Member States' allocations should be spent on control and data collection. The agreed text was endorsed by the Committee on Fisheries on 22 February 2021. After adoption by the Council, Parliament is expected to adopt the text and complete the procedure at second reading.

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