Yesterday, the Space Industry Bill will receive Royal Assent, unlocking an exciting era of British space innovation, exploration and investment. This Bill has the potential to benefit us here in Norwich, as I have met with a local business that manufactures silicone chips that can be used in space flight.
This Bill will be the most modern piece of space industry legislation anywhere in the world. It will enable the first commercial space launch from UK soil in history, creating the potential for highly-skilled jobs in Norwich and bringing in billions of pounds for the nation’s economy.
It will mean that British businesses are able to compete in the commercial space race using UK spaceports. We will also be able to take advantage of future developments, such as hypersonic flight and high-speed point-to-point transport.
Access to space is the final piece of the puzzle for the UK space sector and forms part of the Government’s Industrial Strategy, helping to drive growth across the country and unlocking hundreds of highly-skilled jobs in our regions. The final passage of this Bill will put us at the forefront of the new space race, and help us to compete as the destination of choice for satellite companies worldwide.