The Science Minister Lord Drayson has just announced the formation of a UK Space Agency. More details available here and on Drayson’s twitter feed.

The real details however concern how this will be funded and whether it will take responsibility for all current subscriptions to ESA. So we’ll wait to see what the consequences are for NERC and its budget. Regardless at least we now have a focal point for determining common priorities for all UK Space investment.

Watch this space.