Fishermen in the South West will benefit from new funding to improve the industry. Cash from Europe will pay for ways of improving the economic and environmental sustainability of the UK's fishing industry.
Money will be made available to pay for more selective catching gear that will help eliminate the discarding of fish, and to fund research projects to improve the industry's sustainability.
The new proposal, agreed during Common Fisheries Policy (CFP) talks in Luxembourg on the future of the European Maritime and Fisheries Fund, will fund radical changes to the CFP.
The Department for Environment, Food and Rural Affairs, said that under current arrangements, funding has been channelled into measures which have increased fishing capacity and led to widespread overfishing.
It has also led to unsustainable practices such as the discarding of perfectly edible fish.