Meeting of the Parliament 25 January 2024
There is an element of truth in the member’s point, and it is an important point in the debate, but I hope that, as my remarks progress, I can give the member some confidence that we are doing that at the moment.
We have a thriving space industry, with more than 130 companies in a sector that employs 18 per cent of the United Kingdom workforce and has seen recent revenue growth of 30 per cent. Orbex, based in Forres in my constituency, has just been identified in the top 10 space start-ups to watch globally.
This year, we hope to see the UK’s first vertical launch take-off from Scotland, and that will command headlines throughout and beyond Europe. With regard to Daniel Johnson’s point, we also have one of the largest critical technologies clusters in the UK, with a turnover that is estimated at more than £2.8 billion. Those underpinning and often invisible technologies are vital to our future. In particular, they have huge export potential. Photonics—the science and technology of light, including lasers, optical systems and fibre optics—generates £1.3 billion in revenues, with more than 96 per cent coming from exports.
The growth that has been achieved warrants celebration. That is tremendous growth in tech against a backdrop of the challenges of Brexit, Covid, inflation and energy costs, which are faced by all industries, including technology, and the wider business community. The growth is testament to the strength and resilience of Scotland’s high-tech industries.