10:1 Return On UK Tax Money Spent On Space, Says UKSA’s Matt Archer24th Nov 2022
The UK is in a frenetic race to become a space superpower. However, considering the cost of living crisis in the country at the moment and the strain on public services, a lot of taxpayers are wondering whether tax money spent on space is where the government should be focusing at all.
However, officials have tried to reassure taxpayers, claiming that the UK space race is not a vanity project.
A 10x return on investment by 2034
On 20th November, inews.co.uk reported that Matt Archer, the director of commercial spaceflight at the UK Space Agency (UKSA), promised a 10x return on the UK’s space investment.
“If you think about that 10:1 return ratio, that’s a very good return for the public sector.”
He also revealed that we can expect this return in net benefits from tax money spent on space within the next 12 years.
Keeping home-grown space talent in the UK
Mr. Archer also commented on the fact that home-grown space talent has ended up in the United States in recent times. He hopes that our launch goals here in the UK will make such talent think twice before they decide to up and leave.
Three UK spaceports by the end of 2023
So, where are we in this space race? Well, by the end of next year, we will have three spaceports in the United Kingdom that can launch satellites into space.
Of course, the spaceport in the headlines at the moment is Spaceport Cornwall. Last week, it was announced that Spaceport Cornwall had been granted a license to launch by the UK Civil Aviation Authority.
This means that the spaceport has been deemed to meet the safety, security, and environmental requirements to run a UK spaceport. This means that we are all set for the launch to go ahead later this year.