The Government have launched a new executive space agency for the UK.
The Space Agency is aimed at providing unity to the UK's space sector.
Its not so much about space travel but more about ensuring Britain doesn't fall behind on the growing global space industry. Its very much viewed as an industry of the future as the government makes efforts to diversify the economy in the wake of the collape of the City.
The Space business contributes to the development of satellite technology such as GPS and It's an industry that's growing 5% annually, despite the recession.
Lord Mandelson, Lord Drayson and British astronaut Tim Peake will unveil the name and logo of the new agency as well as unveil further Government support for the sector.
The Government will also publish their response to the Space Innovation and Growth Strategy which is expected to outline a 30 year vision about how the British space industry can flourish.
