The leftist Labor Party that is presently in power in the United Kingdom today issued a press release extolling the “more than £62 million [$83 million] in government funding” it is spending to encourage its home-grown space industry.

The funding – unveiled on Monday 20 July at Farnborough International Airshow by Space Minister Liz Lloyd – will support new satellite communications systems and space innovation projects, helping turn early-stage ideas into commercial products, strengthen the UK’s ability to monitor and protect assets in orbit, and build a more resilient domestic space sector.

$56 million of this fund will go to “UK businesses, universities and research organisations,” while the remaining $27 million will go “to support the development of space technologies across UK industry, universities and research organisations.” Not only is this funding small potatoes, insufficient to do more that fund small design studies, much of it is likely going to pie-in-the-sky research not grounded in profit or reality.

This press release contrasts nicely with the statement issued today by the leftist Labor government in Australia. In Australia the government recognized regulation is a problem and vowed to stream line it. In the United Kingdom the Labor government said nothing about this at all, even though the red tape in the UK is far worse than in Australia, having bankrupted two rocket startups and one spaceport.

Based on this UK statement, do not expect much to change in the UK. The Labor government is pouring money into the industry as subsidies, but doing little to fix the country’s more fundamental bureaucratic problems. If anything, these subsidies will worsen things, as a good percentage are going to the very entities in leftist academia that are the source of the problem.