The name of UK’s Space Agency is to be announced on Tuesday. Lord Drayson and Business Secretary Lord Mandelson will reveal the name and logo of the agency.

UK will now join the bandwagon of industrialized nations that have an executive body to manage their space related activities.

It is expected that the agency will be in command of the money spent on space programs by the Government and agencies that fund scientific research.

The agency will also represent UK globally and will correspond with international partners.

It is anticipated that this agency will make space policy coherent and enable efficient utilization of money.

At present, British space policy is managed by a loose collaboration of Government departments and research councils.

The materialization of this agency will bring different departments together under one banner. It will envelop six Government departments, two research councils, the Technology Strategy Board and the Met Office. This will result in a more cohesive and strategic approach to space programs.

The establishment of this space agency is also most recent in a sequence of enterprises that relate to British space interests. Its creation follows the opening of a technical centre in Britain by the European Space Agency.