This closure would save €7.3 million ($10.3 million) a year, a figure Irish fishing and aquaculture leaders say could be easily be saved in other administrative areas of the marine sector.

Representing the anger of the catching and processing sectors, Sean O’Donoghue of the Federation of Irish Fishermen (FIF) said a decision to abolish BIM is “a retrograde step.”

“This report does not recognize the importance of a development agency for this industry," he said. "The loss of BIM will have a devastating effect on the coastal communities.