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The article examines the condition of Newfoundland's economy and fishery sector, 20 years after the Northern Cod Moratorium was implemented by federal Minister of Fisheries and Oceans John C. Crosbie on July 22, 1992. The moratorium banned the commercial directed fishing of the northern cod stock. It discusses the major steps taken by the Canadian government to limit entry and reduce capacity in the inshore and nearshore fisheries.

Discusses the concept of subsidies in the context of fisheries policies. Impact of subsidies on fisheries; Role of government in the decline of commercial fisheries; Definition of subsidies.

Focuses on the debates leading to the extension of the unemployment insurance system of fishermen in Canada. Description of the parliamentary debates in 1935; Enactment of the enabling legislation in 1956; Implementation of fishermen's unemployment insurance in April 1957; Overview concerning the Canada's unemployment insurance system