I think that the history of first licence implementation goes back to the late 1960s with TAC and quota. In some fisheries, it's a really important one, although it's much longer than we can go into here. When we consider that there were lots of people in vessels involved in fisheries before licence limitation happened, vessels just don't go away. People who desire to be fish harvesters don't just go away. When people use that phrase, I have a lot of empathy because the situation was one where people were fishing and then, all of a sudden, the number of licences got limited. That necessarily means restructuring. I think there's been a reliance on the idea of market principles to take care of allocation. We've heard discussion of how maybe politics plays into that as well.
On February 5th, 2019. See this statement in context.