posted on Mar, 23 2010 @ 09:34 AM
The new UK Space Agency (UKSA) will take over responsibility for government policy and the key budgets for space, according to ministers.
The agency, which comes into being on 1 April, will also represent Britain on space matters in all negotiations with international partners.
The UKSA's name, logo and remit were announced at a conference in London.
Its establishment should bring more coherence to space policy - something critics say has been missing for years.
In particular, it is hoped an executive agency that can champion British interests abroad will help an already successful space industry to grow still
"The action we're taking today shows that we're really serious about space," said Lord Drayson, the minister for science and innovation.
"The UK Space Agency will give the sector the muscle it needs to fulfil its ambition. Britain's space industry has defied the recession. It can grow
to £40bn a year and create 100,000 jobs in 20 years. The government's commitments on space will help the sector go from strength to strength."