Asked by: Baroness Anelay of St Johns (Conservative - Life peer)
Question to the Department for Science, Innovation & Technology:
To ask His Majesty's Government what assessment they have made of the opportunities for the growth of the London insurance market and emerging services relating to operations by the space sector; and whether they plan to bring forward proposals for a reduction of operators’ regulatory compliance costs.
Answered by Baroness Lloyd of Effra - Baroness in Waiting (HM Household) (Whip)
The Government recognises the importance of the London insurance market as the global leader in space insurance. It is looking at options to further support its growth and future development of emerging services, such as Active Debris Removal. The Government is committed to driving growth and innovation through regulation. It is currently consulting on a range of regulatory financial tools for growth of both the orbital operations and insurance sectors, and intends to set out its latest thinking shortly. These measures will contribute to a reduction of operators’ regulatory administrative costs in line with the Prime Minister’s target of a 25% reduction across sectors by 2030.
Asked by: Baroness Anelay of St Johns (Conservative - Life peer)
Question to the Department for Science, Innovation & Technology:
To ask His Majesty's Government, further to the remarks by Lord Hendy of Richmond Hill on 5 September 2025 (HL Deb col 1118), what steps they have taken to consult the space sector on proposals to revise how the limit of operator liability is determined for satellite operations.
Answered by Baroness Lloyd of Effra - Baroness in Waiting (HM Household) (Whip)
The Government is committed to driving growth and innovation through regulation. It is currently consulting with the space sector on options to revise how the limit of operator liability is determined for satellite operations, as part of development of a wider set of regulatory financial tools to support the growth of the UK’s orbital operations sector.
The Government intends to set out its latest thinking to the sector shortly in response to the feedback received. These measures will contribute to a reduction of operators’ regulatory administrative costs in line with the Prime Minister’s target of a 25% reduction across sectors by 2030.