Mr. Chair, we can already see the benefits from the modern safeguards that the Fisheries Act provides. Just last month, on April 4, to be precise, the fish stock provisions of the Fisheries Act came into force for 30 major stocks prescribed by regulation, 14 of which require rebuilding. The provisions introduced binding obligations on the Minister of Fisheries and Oceans to maintain prescribed fish stocks at sustainable levels and to develop and implement rebuilding plans if these stocks become depleted.
Corresponding regulations are now in place to ensure that rebuilding plans are developed in a timely and consistent manner. The fish stock provisions and corresponding regulatory amendments have significantly strengthened Canada's fisheries management framework. They are a major milestone toward restoring and rebuilding Canada's fish stocks and supporting sustainable fisheries for the long term.
These accomplishments support the already great work that Fisheries and Oceans Canada and its partners have been doing to rebuild our fish stocks and place greater accountability on the responsible management of our fisheries for generations to come. This government is committed to restoring Canada's fish stocks to abundance so that they can continue to support indigenous peoples, harvesters, coastal communities and the overall health of marine ecosystems. Healthy fish stocks support more resilient ecosystems while improving the potential for economic returns in the long term.
When a stock has declined, conservation of the stock and concrete action aimed at rebuilding it are of primary importance. Of course, this does not come without a cost. This government recognizes that when a decision is taken to close or restrict certain fisheries so that stocks can be rebuilt, there will be economic impacts during the rebuilding period. These decisions are not taken lightly. The DFO strives to minimize the socio-economic impacts and rebuild initiatives without compromising the primary goal of promoting the rebuilding of depleted fish stocks.
In practice, this is an enormous and complicated undertaking. However, more significant and potentially long-term impacts can result from delaying action, or not taking sufficient action, to promote the rebuilding of stocks.
DFO will continue to invest in its science programming to ensure fishery decisions based on the precautionary approach continue to be informed by leading science advice on the biology of fish stocks and environmental variables affecting those stocks.
The 2018 fall economic statement announced $107.4 million over five years and $17.6 million in ongoing investments to support the implementation of the fish stocks provisions in the 2019 amendments to the Fisheries Act.
A large portion of this funding is supporting science activities, from at-sea surveys to the development of reference points to apply the precautionary approach to fishery decisions. Further, DFO is funding external projects to support innovation in fisheries and science that will contribute to sustainable fisheries.
Fisheries and Oceans Canada, and this government more broadly, continue to be firmly committed to safeguarding the long-term viability of Canada's fisheries and coastal communities by ensuring the health of Canada's fish stocks and aquatic ecosystems.
For communities across Canada, fish are an important resource. Commercial and recreational fishing sectors are key economic drivers in coastal communities, with ocean-based recreational fisheries contributing about 2% to Canada's marine economy output. Harvesting operations both large and small are often the single largest source of local jobs in Canada's coastal regions.
In 2018 alone, the commercial fishing industry contributed $2.3 billion to Canada's gross domestic product, with the aquaculture industry contributing $700 million and the fish processing industry contributing $1.2 billion. The total direct and indirect contribution of the seafood industry to the Canadian economy accounted for $7.6 billion. This industry provides an estimated 20,400 individuals with direct employment in fish and seafood processing, with an additional 32,167 indirect jobs stemming from the industry.
With this in mind, it is easy to see why the fishing industry is so important to not just coastal communities, but indeed to Canada as a whole, which is why I have such a great interest in this tonight.
Can the minister please explain what she is doing to ensure the long-term sustainability and viability of the commercial fishing sector?