Willetts announces formal launch of UK Space Agency

Making the announcement yesterday, science and universities minister David Willetts set out a strategy for the agency based on international co-operation, reduced regulatory burden and public spending to stimulate growth.

While £10m has been earmarked to start a national space technology programme, it follows an announcement by the French government last week pledging a package worth around €500m (£440m) to spur innovation and replace Ariane.

‘The British way of doing these things is going to be different from the continental model — we’ve by and large eschewed some of these really big projects. What we have got is a nimble industry that is very commercial, highly responsive, that doesn’t want the level of public involvement you get in some other countries,’ Willetts said.

Indeed, the UK’s private space industry is now estimated to be worth £7.5bn and has seen growth right through the recession, and Willetts said the government’s role should be to ’give a nudge’ to help business where necessary.