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UK Space Policy

: Yes. There is always a semantic difference about whether funding is an investment or a cost. Money invested is space is just that: an investment for the future. As I shall say a little later, it is an investment because of the amount of technical expertise in the industry. The figures will become clearer later, but an enormous number of graduates take up worthwhile and meaningful careers in the space sector. Investment in the industry not only repays itself; it is an investment into the education of some of our young people. Across the UK, the space sector employs more than 15,000 people in more than 200 companies and offers some of the most exciting and rewarding work to be found anywhere. More than two thirds of the work force have a degree; they are probably the most highly skilled work force in British manufacturing, and they are adding value to Britain. By the Government's own measurement, the space industry is one of the most value-adding, generating about £4 billion a year for the British economy. The global space industry is growing at 15 per cent. a year—past investment is paying off.