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| Strategy to grow UK space sector | Strategy to grow UK space sector |
| (about 4 hours later) | |
| The UK space industry can become a much bigger global player, employing thousands more highly skilled workers and turning over perhaps £40bn a year. | The UK space industry can become a much bigger global player, employing thousands more highly skilled workers and turning over perhaps £40bn a year. |
| The projection is made in a report prepared jointly by industry, government, and academia. | The projection is made in a report prepared jointly by industry, government, and academia. |
| The Space Innovation Growth Strategy identifies key market opportunities - from the delivery of internet services by satellite to space tourism. | The Space Innovation Growth Strategy identifies key market opportunities - from the delivery of internet services by satellite to space tourism. |
| The report says greater investment will position the UK for future success. | The report says greater investment will position the UK for future success. |
| The Space IGS wants to see R&D spending within industry increase by £5bn, and for the government to double its annual civil space budget to £550m over the next 10 years. | The Space IGS wants to see R&D spending within industry increase by £5bn, and for the government to double its annual civil space budget to £550m over the next 10 years. |
| FROM THE TODAY PROGRAMME More from Today programme | |
| "We're not actually asking government for a massive increase in spending; this would not take us anywhere near the top of the table in terms of what other countries spend as a percentage of GDP - we've been quite modest in that respect," explained Andy Green, CEO of Logica and chairman of the Space IGT. | "We're not actually asking government for a massive increase in spending; this would not take us anywhere near the top of the table in terms of what other countries spend as a percentage of GDP - we've been quite modest in that respect," explained Andy Green, CEO of Logica and chairman of the Space IGT. |
| "But what it would do - if we do it well and smartly, as we have done so up to now - is give us a real opportunity to create wealth, jobs and taxes which will pay back the investment handsomely," he told BBC News. | "But what it would do - if we do it well and smartly, as we have done so up to now - is give us a real opportunity to create wealth, jobs and taxes which will pay back the investment handsomely," he told BBC News. |
| The Space IGS is the latest in a series of innovation status reports commissioned by the government. Others have looked at biotechnology and the car industry. | The Space IGS is the latest in a series of innovation status reports commissioned by the government. Others have looked at biotechnology and the car industry. |
| The intention is to identify emerging market trends and the approaches that need to be adopted to exploit them. | The intention is to identify emerging market trends and the approaches that need to be adopted to exploit them. |
| The new strategy report makes 16 recommendations. | The new strategy report makes 16 recommendations. |
| It throws its weight behind the idea of an executive national space agency to coordinate activity across government, and for the establishment of a "national space policy". | It throws its weight behind the idea of an executive national space agency to coordinate activity across government, and for the establishment of a "national space policy". |
| The report wants to see the UK lead three major Esa missions by 2030 | The report wants to see the UK lead three major Esa missions by 2030 |
| At the moment, space policy is devolved to a disparate group of Whitehall departments and research councils, who direct most of their money through two pan-European organisations - the European Space Agency (Esa) and Eumetsat, the body charged with operating Europe's weather satellites. | At the moment, space policy is devolved to a disparate group of Whitehall departments and research councils, who direct most of their money through two pan-European organisations - the European Space Agency (Esa) and Eumetsat, the body charged with operating Europe's weather satellites. |
| The report says a co-ordinated indigenous space policy allied to a national R&D programme would drive innovation and develop expertise. | The report says a co-ordinated indigenous space policy allied to a national R&D programme would drive innovation and develop expertise. |
| This would enable the UK to lead major missions within Esa and also put the country in a position to win substantial industrial contracts as a result. | This would enable the UK to lead major missions within Esa and also put the country in a position to win substantial industrial contracts as a result. |
| The strategy also calls for the UK to make greater use of the financial tools deployed by other countries to support their space industries, such government-backed loans or export credit guarantees. | The strategy also calls for the UK to make greater use of the financial tools deployed by other countries to support their space industries, such government-backed loans or export credit guarantees. |
| It says the highly successful Private Finance Initiative which was used to build three next-generation communications satellites for the armed forces could be deployed again to build satellites for a national Earth observation programme. | It says the highly successful Private Finance Initiative which was used to build three next-generation communications satellites for the armed forces could be deployed again to build satellites for a national Earth observation programme. |
| What PFI did for military satcoms it could now do for Earth observation | What PFI did for military satcoms it could now do for Earth observation |
| The PFI model sees the City put up the money to initiate a programme, and the government then effectively underwrite the risk by agreeing to become the prime customer. | The PFI model sees the City put up the money to initiate a programme, and the government then effectively underwrite the risk by agreeing to become the prime customer. |
| "There has to be a recognition that we're up against not just other companies but other countries with big ambitions - countries like China, India, Japan, and even France and Germany," said Richard Peckham, the chairman of UK Space, an umbrella group representing the British industrial space sector. | "There has to be a recognition that we're up against not just other companies but other countries with big ambitions - countries like China, India, Japan, and even France and Germany," said Richard Peckham, the chairman of UK Space, an umbrella group representing the British industrial space sector. |
| "If we are going to succeed it's got to be through partnerships- so, working with academia, with government making clever procurement, and an industry willing to invest and take some risks." | "If we are going to succeed it's got to be through partnerships- so, working with academia, with government making clever procurement, and an industry willing to invest and take some risks." |
| If its recommendations are followed, the report forecasts that the domestic space industry could have a 10% share of a worldwide market that is expected to be worth some £400bn per year by 2030. | If its recommendations are followed, the report forecasts that the domestic space industry could have a 10% share of a worldwide market that is expected to be worth some £400bn per year by 2030. |
| But the study warns that unless the government, the City and industry itself start investing more in space, current competitiveness will be undermined. | But the study warns that unless the government, the City and industry itself start investing more in space, current competitiveness will be undermined. |
| Andy Green said: "The UK has established a strong position and it's quite clear that without government and industry working together that position will erode. I think we need to be realistic about that; we're at a kind of tipping point." | Andy Green said: "The UK has established a strong position and it's quite clear that without government and industry working together that position will erode. I think we need to be realistic about that; we're at a kind of tipping point." |
| Jonathan.Amos-INTERNET@bbc.co.uk | Jonathan.Amos-INTERNET@bbc.co.uk |