This paper will critically evaluate the provisions of the Space Industry Act 2018, its relationship with the Outer Space Act 1986 and the underlying arguments behind the UK Government’s decision to use the new Act to encourage both the development of launch systems within the UK and the attendant infrastructure. It will also consider the ramifications for the space economy within the UK and how the legislation will facilitate access to space for small space start-up companies and encourage the growth of a nascent space tourism industry. Given that the UK has taken the opportunity to revivify its national space law, the paper will go on to discuss some of the key points of significance in the new legislation. In particular, the 2018 Act lacks specific detail on many key regulatory issues, instead providing a skeleton outline which requires augmentation by way of secondary legislation. The paper will consider the way in which the UK will seek to fulfil its international treaty obligations within the legislative framework and whether the legislation can serve to contribute to the growth of the UK space economy amidst unprecedented political turmoil.