Thursday, June 5, 2008

CAW calls for $1.5B in funding for space industry

Canada's space sector requires $1.53 billion in new funding over the next five years to rebuild Canada's space capabilities, according to a report released Wednesday.

The study "Flying high: A plan to rebuild Canada's space capabilities," released by the Canadian Auto Workers and the Ottawa-based Rideau Institute for International Affairs, calls on the government to increase funding to the Canadian Space Agency to help keep the industry globally competitive.

"The fundamental problem facing companies contracting with the CSA is that the agency's budget has been stagnant for eight years at approximately $300 million per year," wrote financial analyst David Macdonald, the report's author.

The report applauded the federal government for closing the door on the proposed $1.3-billion sale of Vancouver-based MacDonald, Dettwiler and Associates' space-technology division to a U.S. space and weapons company last month.

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