BRACKNELL'S MP has welcomed the Chancellor's decision to increase the UK space budget by �60m.

Dr Phillip Lee, who is also vice chairman of the Parliamentary Space Committee said he has been lobbying the treasury for additional funds for the space industry for "some time" and is pleased to have "finally triymphed".

He said: "This is truly fantastic news for the UK.

"I am strong advocate for the British space industry, this is why I am extremely pleased that the Chancellor took heed of my advice and recognised the importance of the space industry and the potential it has to play a larger role in providing further growth to the UK economy." In 2011 the UK space industry grew by 7.5% contributing �9.1 billion to the economy and employing 28,900 people.