(4 years, 10 months ago)
Commons ChamberThe UK space sector employs 42,000 highly skilled people, generating more than £300 billion for the wider economy. We recently committed ourselves to investing £374 million a year—a record 15% increase—with the European Space Agency over the next five years, and our national space council and space strategy will help us to lead the way in the evolution of this high-technology sector.
Following the welcome announcements in the Queen’s Speech about investment in the UK space sector, will my hon. Friend tell us the status of funding for innovation in the sector and of plans for the proposed UK space strategy?
I thank my hon. Friend for his work as vice-chairman of a newly formed all-party parliamentary group, the parliamentary space committee. I know that he plans to fly to the United States next month to attend the launch of the European Space Agency’s solar orbiter, which was built in Stevenage. It is a fantastic piece of UK science engineering and was funded by the Government to the tune of £216 million.
I understand that the space industry has proposed a space innovation fund, and I am interested in working with the industry on that. The national space council will consider how we can build on existing commitments through a comprehensive UK space strategy, which will help to create thousands of jobs across the country.