Space Industry (Indemnities) Bill

Debate between Viscount Stansgate and Lord Moylan

3rd reading
Friday 12th December 2025 Lords Chamber

[Viscount Stansgate (Lab)]

My Lords, I will not detain the House, because, as we all know, there is important business ahead. However, I congratulate and thank the noble Baroness, Lady Anelay, for her work on the Bill and for having brought it to the stage where it is poised on the brink of the statute book. As someone who, in the past, has piloted a Private Member’s Bill through to its final stages, I know very well that the Private Members’ Bill procedure can indeed change the law of this country.

The Bill literally changes one word, from “may” to “must”. As a member of your Lordships’ UK Engagement with Space Committee—I am not here to talk about our report, Act Now or Lose Out, interesting though it was—I believe that the Bill will unlock investment and a space economy for the future. The UK could be well placed to play an active part in that. I thank all those involved and wish this Bill very well in the future.

[Lord Moylan (Con)]

My Lords, this is the second Bill this week that, in effect, transfers risk or cost away from private investors to the taxpayer or the fare payer, to help put Britain on the path to industrial success in the future. I say to the Minister, who supports the Bill, that this is a long way from the days of the railways, when private money without government support and without any transfer of risk—and sometimes with private investors losing their funds—built our great railway network. However, it turns out that this is necessary for our success in space and so we support the Bill and congratulate my noble friend Lady Anelay of St Johns on bringing it forward and to a successful conclusion. Like her, I thank not only the Minister for his friendly and open engagement but his civil servants, who have been supportive in this process.