Alex Ballinger

I welcome the UK’s industrial strategy, particularly the defence industrial strategy. Many businesses in Halesowen, such as Somers Forge, work in the UK defence sector—primarily the Navy—given our engineering expertise in a heavily industrial part of the country, but there are opportunities for lots of businesses across the country to get involved in the space sector. This small change will unlock a lot of investment that could be used in many different places. There are other reasons to support the sector. If our goal is to eliminate the obstacles that hinder new businesses from establishing themselves in the UK, these two small words will help to make that change. In doing so, we aim to create an environment in which companies are encouraged to set up operations here, rather than relocating to other countries. We must focus on retaining jobs and ensuring that the employment opportunities of the future are available right here in the UK. Additionally, fostering a thriving business ecosystem will not only boost our economy but drive innovation and technological advancements. By supporting the sector, we can create a sustainable and prosperous future for our nation, attract global talent and investment across science, technology, and research and development, and contribute to the Government’s core mission of growth. Once again, I congratulate my hon. Friend the Member for Glasgow East on his Bill. It is a significant step towards ensuring that the UK remains at the forefront of the space industry, driving economic growth and innovation for years to come, and a clear signal to the world that the UK is open for business, ready to lead in the space industry and dedicated to creating a thriving environment for growth and development. By supporting the Bill, we are investing in not only the space industry, but the future of our country, ensuring that we remain competitive on the global stage and continue to attract the best and brightest minds to our shores.