Thank you for the question.
Norway and Iceland are both unitary states. They don't have federal jurisdiction the way we do in Canada and the United States. When you look at Australia and the United States, you see quite a different approach to fisheries management, because they're federal states. In the United States, you have a very comprehensive system of joint management that involves the states but is not one-on-one, because there are 50 states in the U.S. We have 13 subnational jurisdictions in Canada, or 10 provinces—however you want to look at it—but in the U.S. they have this regional approach. The regional approach brings the states together. In Canada, however, property and civil rights are in the jurisdiction of the provincial governments.
When I was the deputy minister of fisheries, the Government of Newfoundland and Labrador had jurisdiction over fish plant licensing and major capital investments in that sector. The federal government had major jurisdiction over the harvesting sector and to a large extent over marketing and quality control. There was an overlap on quality between the federal and provincial governments. What we didn't have was a mechanism to bring this together formally under the law. You had people in the industry being regulated and getting one set of regulations....
If you're a vertically integrated fishing company, you have to deal with a lot of different regulatory regimes. We need one integrated regulatory regime. That's what we did with the offshore. The Atlantic accord created the Canada-Newfoundland and Labrador Offshore Petroleum Board, which brought together those regimes and created transparency. That's essentially, in my opinion, what we need to do here.
Iceland and Norway have been very successful in what they've done in managing their stocks. They never let their cod stocks get to the point that ours did. We made a major failure. A lot of that failure was the lack of coordination between governments. Governments were giving conflicting signals. The provincial government was encouraging more fish plants to be built, and the federal government was saying, no, you have enough. It depended on which minister was in power. You had some ministers who were pro-development and other ministers who were pro-regulation or pro-conservation.
I think it's about time for us to really focus on how we do the management. I think the instability of our industry is to a large extent attributable to the way we have managed it, particularly the politics of it. We should be world leaders in the fishery. We have enormous resources if we can rebuild those resources. We talk about megaprojects in Canada. The fishery is a megaproject—a potential megaproject.