To keep the fishing industry surviving the British government should help it to continue access to European Union markets even after Brexit, withdrawal of United Kingdom from the EU bloc, said a House of Lords report.
It is also warned the EU-registered boats should be allowed by the government to fish in UK waters.
During the referendum campaign earlier this year the fishing regions heavily voted in favor of Brexit.
The Lords add in its report the fishing communities could be marginalized in the wider Brexit negotiations and they are at greater risk.
The Common Fisheries Policy (CFP) of Britain has often been said as a disaster for Britain as it has quotas and principle of equal access to commercial fishing grounds for the boats from all member states.
Many in the community argue the Brexit would offer the fishing industry to regain control over UK waters and like Norway they could become the leading fish-exporting nation.
As of now the country produces just half of one percent of GDP and currently employs 12,000 fishers.
The complicating part about the industry is that most of the commercial fish stocks are in waters which are shared between UK and other EU coastal states.