Space Industry (Indemnities) Bill

Lord Evans of Guisborough Excerpts

2nd reading
Friday 5th September 2025 Lords Chamber

[Lord Evans of Guisborough (Con)]

My Lords, it gives me great pleasure to follow my noble friend Lord Ranger. We have become used to playing tag team on Friday debates; he followed me last time round, so it is my turn to go second today. I also thank the noble Baroness, Lady Anelay, for bringing the Bill before the House and for the time she spent with me when she heard that I was going to contribute to the debate, explaining how the Bill works and what it is intended to achieve.

Unlike many other noble Lords who have spoken today, I am not a member of the space committee, but I know a good thing when I see one—and so I believe that this is an excellent Bill. It encourages investment in a growing new industry; it looks to the future; it lifts a burden from business; and it does it all without increasing the volume of statute by as much as a single word. I am delighted to lend it my support.

We have rightly heard much about Scotland and the contribution that it makes to the space industry; my noble friend Lady Mobarik eloquently put the case for Scotland, and I understand that Glasgow now rivals California as a base for satellite technology—and no doubt in many other ways, too. However, as a recovering deputy mayor of London, I always like to put in a word for our City and for the consequences of our legislation on it. We may not provide a platform for space launching in London—our skies are already pretty full, as the Minister will be aware from his time at Transport for London; the expansion of Heathrow Airport attracts vocal opposition, so I am sure the Minister would not wish to venture down the road of launching rockets from London—but we are well placed to provide innovation to the UK space race. Our universities in London are gearing up to play a leading part, with Imperial and City University both hosting centres of excellence in this field. There will be a boost for our financial sector from the Bill, because, even though there is competition from around the world, I believe that London is second to none still for raising capital for innovative projects.

The UK regulatory framework, which my noble friend Lord Willetts referred to, is, by the admission of the Minister in the other place, the most advanced and trusted in the world, which is a great base to start from. It is good news for London’s legal sector—people who are never far from our thoughts in this House. The insurance market will benefit from the certainty that this Bill brings. It is impossible for the sector to insure against unlimited risk, so the proposal to cap risks for each of these projects is welcome and will enable the industry to play its part.

In my short time in the House, I have become used to Friday mornings being an excellent time to see debate on all sorts of subjects, and this morning has been no exception. We started early with voting arrangements in Scotland and moved on to discussions of countryside issues, which were very interesting and well informed, and we have climaxed with a scene in space—rather like one of those Bond films from the 1970s starring Roger Moore. Some noble Lords will remember those films; there was always an amusing closing quip from Bond, maybe a double entendre, so I look forward to the Minister’s response to the debate.