Stewart: Take heed of Bernie

Following Ecclestone's comments that Europe won't be able to compete with the likes of China, Korea and India over the next decade, Stewart said the UK must heed his warning.

"British motorsport, its industry and the British Government has to listen to the statement made last weekend by Bernie Ecclestone," said Stewart. "Bernie is right highlighting the massive financial power and draw of those countries trying to get into the F1 calendar."

Concerning Ecclestone's comments that Silverstone is "still like an old house that keeps getting repaired when the roof leaks", however, Stewart was less amenable.

"We cannot agree with Bernie with regards to his observations on Silverstone," Stewart added. "He is one of the partners involved in the rebuilding of Silverstone to retain the British GP. The BRDC has made it clear on many occasions that, as owners of Silverstone, we are prepared to make significant proportionate financial contributions beyond the £15million already committed to the master plan to retain the grand prix in the UK. We offered an additional £15million to further assist in the retention of the grand prix to 2015.

"Although the BRDC is working successfully with the East Midlands Development Agency on projects to assist the motorsport industry, we still await commitments from IPG [Interpublic Group, which leases the circuit for the British GP], FOM [Formula One Management] and Her Majesty's Government directly related to the retention of the British Grand Prix."