Our glorious UK government appears to have abandoned plans to spend £5bn building our own GPS system (into which we'd already invested £450m resuscitating OneWeb, a bankrupt broadband satellite company).
The system was to replace the EU's Galileo GPS system (into which we'd already invested over £1bn) which we foolishly abandoned after the Brexit vote.
The UK Space Agency appears to be lobbying to reverse the stupid Galileo decision. Best of British luck with that.
(, Wed 23 Sep 2020, 16:07, Reply)
(, Wed 23 Sep 2020, 22:30, Reply)
According to Huffington:
"The company will go bust owing nearly £2m – made up of £1.2m to trade and expense creditors, a £400,000 loan, £323,000 in directors loans and a £100 corporation tax bill to HMRC."
(, Wed 23 Sep 2020, 23:04, Reply)
At least they didn't invest in anything designed by Siemens to help the NHS cut costs for over £10 billion, right?
(, Wed 23 Sep 2020, 23:32, Reply)
This is bailing out an America-based broadband satellite company that does not make GPS satellites and whose satellites cannot support a GPS network, in order to replace a dedicated European military grade GPS satellite system that we'd already paid for and didn't need to abandon.
This is GB once again developing a first class space capability at great expense only to walk away from it for no good reason. GB remains the only country to have ever done this.
(, Thu 24 Sep 2020, 14:38, Reply)
