Personal Finance

Portfolio

Watch List

Baystreet School

Prime Rates

GIC Rates

Deposit Account Rates

Compare Mortgage Rates

Compare Credit Cards

Ottawa Approves Commercial Space Launches In Canada

The federal government in Ottawa has given the greenlight to commercial space launches and will develop new regulations that support them.

Federal officials said commercial space launches will foster innovation and bring new economic opportunities to different regions of Canada, as well as create high paying jobs.

The federal government added that Canada is well-positioned to support space launches but that regulations are needed to support the endeavour.

The federal government will allow commercial space launches over the next three years on a case-by-case basis while it updates supporting regulations.

Commercial space launches into Earth’s orbit will include satellite launches. The federal government said satellite launches are in high demand in sectors such as telecommunications