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My Lords, numerous genuinely UK companies that are cutting-edge frontier businesses and high risk would welcome a $500 million investment from the UK Government. They have typically managed their businesses far better than OneWeb, which, as the Minister said, managed to put itself into bankruptcy. Where do they apply for the money?
My Lords, numerous genuinely UK companies that are cutting-edge frontier businesses and high risk would welcome a $500 million investment from the UK Government. They have typically managed their businesses far better than OneWeb, which, as the Minister said, managed to put itself into bankruptcy. Where do they apply for the money?
This is, as I said, a one-off investment in a cutting-edge satellite technology company which has many applications that the UK can leverage, including defence applications and providing communications, resilience and remote operations where services are currently limited.