A plan to overhaul New Zealand's fisheries system proposes the Crown buy back all commercial quota shares, and allow for independent monitoring of commercial fishing operations.

The Quota Management System was set up in 1986 as a way to stop the depletion of fish stocks, but growing concerns continued to be raised about it’s impact of fish stock and biodiversity.

NZ Sport Fishing Council President Bob Gutsell told Simon and Phil a proposal by Not-for-Profit group Legasea, with their support, will overall the current system and start from scratch a better way to look after our fisheries.

He says quota system puts too much power in the hands of too few, and it’s costing what is a national treasure.

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