Management Today's Leadership Lessons
Jun 15, 2026 · 15 min · 9 segments
Lord Heseltine tells the story of the birth of the European Space Agency. Why post-Apollo, when the US was spending £1.2 billion a year on space, the whole of Europe was spending just £200 million…
Alice BunnHostWell, I remember my part in it very clearly.
A file came across my desk when I was Minister of Aerospace.
I read this and I said, look, before you get me a decision on this, I want you to give me two figures.
I want to know what is the total European spend on space if we put all the space programs of Europe into one pot.
And then I want to know what the Americans are spending on space.
Didn't take long.
The figures came back, and I'll never forget them.
If you put the whole of Europe into one pot, 200 million pounds a year, The Americans were spending six times that, 1.2 billion pounds a year.
And I said to officials, look, you're just playing in Toy Town.
Six million here or there isn't going to secure the sort of leading edge technological important position that you're talking about.
The deal that we developed was based on the self-interest of three major countries.
British industry wanted the leadership in satellite technology.
That was the basis of the partnership that we put forward and which was ultimately successful.
It's fascinating listening to you talk because I think, again, there is still a very strong support for the launcher program coming from France and there is still a very strong support for exploration coming from Germany.
Well, I remember my part in it very clearly.
A file came across my desk when I was Minister of Aerospace.
I read this and I said, look, before you get me a decision on this, I want you to give me two figures.
I want to know what is the total European spend on space if we put all the space programs of Europe into one pot.
And then I want to know what the Americans are spending on space.
Didn't take long.
The figures came back, and I'll never forget them.
If you put the whole of Europe into one pot, 200 million pounds a year, The Americans were spending six times that, 1.2 billion pounds a year.
And I said to officials, look, you're just playing in Toy Town.
Six million here or there isn't going to secure the sort of leading edge technological important position that you're talking about.
The deal that we developed was based on the self-interest of three major countries.
British industry wanted the leadership in satellite technology.
That was the basis of the partnership that we put forward and which was ultimately successful.
It's fascinating listening to you talk because I think, again, there is still a very strong support for the launcher program coming from France and there is still a very strong support for exploration coming from Germany.
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