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Branson, one of six Virgin Galactic Holding Inc employees strapping in for the ride, has touted the flight as a precursor to a new era of space tourism, with the company he founded poised to begin commercial operations next year.
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Despite being considered lower-risk than other cities, premiums in Waterloo rose a “modest” 9.8% last year, and a “significant” increase is expected this year, said Brian McEnhill, risk manager for the insurance pool.
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Sir Richard Branson has said he is feeling ‘good’ and ‘excited’ ahead of his record-breaking flight his Virgin Galactic which will see him soar more than 50 miles above the New Mexico desert to become the first billionaire to leave earth in a rocket ship today.
Sir Richard Branson (left) is set to become the first billionaire to leave earth in a rocket today as he will join the crew of Virgin Galactic’s VSS Unity which will launch from mothership VMS Eve on July 11, with a live stream of the event starting at 2pm
Branson will pose for photographs with the other five passengers before the journey which Branson told the Sunday Times was his ‘Star Trek moment’ after being inspired by the franchise as a child, even deliberately designing their uniforms to resemble those worn in the series.
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A discount travel service it is not. But demand is apparently strong, with several hundred wealthy would-be citizen astronauts already having booked reservations, priced at around £180,000 per ticket.
While the bigger tax bases help, that benefit is “consumed by the cost to service” the growth, said Sandra Zwiers, director of finance for the County of Essex, about 350 kilometers southwest of downtown Toronto, which has received an influx of residents from around the city.
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For Bracebridge town in the cottage district of Muskoka, some 175 kilometers north of Toronto, a C$160,000 increase in expenses in a year raises property taxes by 1%, said its mayor, Graydon Smith, who is also president of the Association of Municipalities Ontario.
