Actually the Black Arrow programme cost about £9m and was financed out of MoD petty cash, as a justification for prior spending of hundreds of millions of pounds on abandoned ballistic missile programmes, which eventually were incorporated into the European space programme. US commentators misreported that Black Arrow cost ten times as much as it did and were still astounded at how cheap it was. It was probably the cheapest satellite launcher ever tested, it pioneered satellite technology and established the UK satellite-building industry, which today is still a small but significant part of the global space research effort.