European Space Agency

Department for Business, Innovation and Skills written question – answered on 8th December 2014.

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Photo of Iain Wright Iain Wright Shadow Minister (Business, Innovation and Skills)

To ask the Secretary of State for Business, Innovation and Skills, what estimate he has made of the potential return on investment to the UK arising from its planned investment in the European Space Agency programmes.

Photo of Greg Clark Greg Clark Minister of State (Universities and Science), Minister of State (Cabinet Office), Minister of State (Cabinet Office)

The business case this Department prepared for investment at the December 2014 European Space Agency (ESA) Ministerial undertook an economic analysis using data from past space and science interventions and modelled the potential returns from our planned future investment in the ESA programme. This modelling has projected that for every pound of public money invested we will get a return of over £10.

The estimates of the future markets which could be accessed by UK industry as a result of the investment are up to £1.5 billion. In 2012/13 the UK space turnover was £11.3 billion with 34,300 employed in the space sector.

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