it's an interesting technology, but the government shouldn't invest, for the following reasons.
£60M, or even £250M is peanuts and won't get you an end product, look at the sus Boeing and Airbus pour into an update for an existing design; similarly RR, PW in engines.
If the technology works then it's already been stolen by the USA and China and massive amounts, $250M a month or quarter, will be be being invested to get black one-shot space capability - which the maker will feed back to their commercial products.
Even if it works, the space market is a closed shop with just a few purchasers with existing and planned products, who will buy?
Concorde proved that the commercial market for high speed flight is minute, most people will save their money and fly as economically as possible, and video conferencing/web continues to shrink the market. Seriously, which airline would even consider buying someone of this nature?
Lovely concept, but it won't fly.... at least not in the UK/Europe.