UK Space Economy

Baroness Ashton of Upholland Excerpts

Wednesday 11th March 2026 Lords Chamber

[Viscount Stansgate]

To ask His Majesty’s Government what steps they are taking to support the UK space economy.

[Baroness Ashton of Upholland (Lab)]

My Lords, at the request of my noble friend Lord Stansgate, and with his permission, I beg leave to ask the Question standing in his name on the Order Paper.

[The Parliamentary Under-Secretary of State, Department for Business and Trade and Department for Science, Innovation and Technology (Baroness Lloyd of Effra) (Lab)]

My Lords, the space economy is a top priority for the Government, who have announced a £2.8 billion investment over the spending review for the UK Space Agency, including a £1.7 billion commitment at the last European Space Agency Ministerial Council. We are strategically investing to support sector growth through a new outcomes-based, targeted approach. Through a one-government philosophy, we will grow the space economy by focusing investment on enabling businesses to commercialise and scale.

[Baroness Ashton of Upholland (Lab)]

I thank my noble friend the Minister for that reply. Given that, in the space inquiry we conducted, The Space Economy: Act Now or Lose Out, we identified that the space sector is worth £18.6 billion to the economy, employs 55,000 people and is growing a rate of about 6% a year, can she tell us more about the priorities across government, as space impinges on every aspect of our lives?

[Baroness Lloyd of Effra (Lab)]

I share the enthusiasm of my noble friend, the committee and the report for the space economy. We responded in detail to the recommendations earlier this year. We are setting out our strategic priorities, which, as the committee and my noble friend highlighted, encompassed many aspects of our lives, including defence, economic growth and support for our farming communities. We will continue to focus our spend on the priorities of economic growth and national security outcomes.