The report claims fishing can cut truancy and anti-social behaviour
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Anglers can now find fish in more rivers than at any time in the past century, the Environment Agency says.
The biggest-ever survey of inland fishing in England and Wales found fish in 98% of inland waterways, with over half home to eight or more species.
The agency said improved sewage treatment and rebuilding river habitats was behind the boom in fish numbers.
Almost 4m anglers in the UK benefit from the change, adding up to a leisure industry worth £3bn, the agency said.
Local economy
The pollution watchdog claims fishing as a pastime can also help cut the incidence of truancy and anti-social behaviour.
A survey in 2001 showed almost one in 10 of the population aged 12 or over had fished in the preceding two years.
Anglers spend on average more than £1,000 a year on tackle, travel, accommodation and meals during their fishing trips, supporting thousands of jobs, the Environment Agency said.
A study of the River Teifi in south-west Wales found salmon and sea trout anglers made an estimated £1m annual contribution to the local economy.
Eel stocks are critically low, the Environment Agency says
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The waterways richest in fish were the River Mole in Surrey and River Lymm in Lincolnshire, each with 14 different species recorded.
However, the agency warns in its Our Nations' Fisheries report that stocks of certain fish are at dangerously low levels.
Eel numbers are at only 1% of historic levels, while salmon stocks are seriously depleted.
The migratory eel populations are believed to have been affected by conditions out at sea.
Dafydd Evans, head of fisheries at the Environment Agency, said: "As well as having a significant economic and environmental role to play, fisheries of England and Wales provide important social benefits to millions of people through an enjoyable and healthy pastime.
"The revenue generated for local communities by anglers across England and Wales is important.
"We are working with numerous organisations across the board to encourage more people to reap the benefits that angling can provide."