Every 3–4 years, ESA member states agree on a budget plan for several years at an ESA member states conference.
Even though the UK government is looking to distance itself from the European Union as it pursues Brexit, it is still aiming to secure the economic benefits of being one of the main contributors to ESA
This provides much needed certainty for the path ahead for the strategically important UK space sector .
The UK is ESA’s fourth-biggest funder and currently contributes about €350m a year to its programmes. On Wednesday, the government confirmed it would increase its annual funding to £374m over five years, a 15 per cent increase in sterling terms but a 23 per cent increase in euros when exchange rates are taken into account.