The 1980s saw an increase in support for Faroese independence. Unemployment was very low, and the Faroese were enjoying one of the world's highest standards of living, but the Faroese economy was almost entirely reliant on fishing. The early 1990s saw a dramatic slump in fish stocks, which were being overfished with new high-tech equipment. During the same period the government was also engaged in massive overspending. National debt was now at 9.4 billion Danish krones (DKK). Finally, in October 1992, the Faroese national bank (Sjóvinnurbankin) called in receivers and was forced to ask Denmark for a huge financial bailout. The initial sum was 500 million DKK, though this eventually grew to 1.8 billion DKK (this was in addition to the annual grant of 1 billion DKK). Austerity measures were introduced: public spending was cut, there was a tax and VAT increase and public employees were given a 10% wage-cut. Much of the fishing industry was put into receivership, with talk of cutting down the number of fish-farms and ships.