Of all the sports that want government subsidies, the plutocratic Formula 1 must be the least deserving. Yet now that the Silverstone Grand Prix faces being axed by the F1 chief Bernie Ecclestone, the East Midlands Development Agency is planning to come to the rescue - with taxpayers' money.
But how many jobs are really under threat? The majority of the Formula 1 teams are based in Britain for its mechanical expertise, and are not about to leave just because Silverstone falls off the circuit. And how much more will the Government be expected to pay out in future to keep Mr Ecclestone happy? Clearly, he knows how to drive a hard bargain, as we have seen before, but this deal should be parked before Mr Ecclestone makes a mockery of the Government again.Reuse content