Some sources have suggested that new legislation could mark the end of Formula One racing in Europe. The EC recently announced new proposals that would mean all motor vehicles would need to have third-party insurance. A number of leading insurers responded by saying that insuring F1 cars would be considered too high risk.
One of Britain’s top industries
Currently, seven of F1’s 10 teams are British based, meaning it’s a huge industry in this country. It’s estimated that Britain’s F1 interests create around £2 billion of business and support in excess of 40,000 jobs. The F1 calendar for 2018, stretches almost to the end of the year, with the 2018 British Grand Prix taking place at the world-renowned Silverstone track in July.
More world champions have hailed from Britain than any other country, stretching all the way from Mike Hawthorn in the 1950s to Lewis Hamilton in the present day.
If you are keen to get your fill of F1 before the proposals potentially become law, the F1 Paddock Club in Britain offers some of the best racing car viewing in Europe. Private access to the club gives you an optimum viewing spot, gourmet dining, pit lane walkabouts and much more. Further details can be found from a company such as https://edgeglobalevents.com/f1-paddock-club/britain/.
It’s not just British interests that will be affected. Other successful teams based in the EU, including Ferrari, who are based in Maranello in Italy, would also be affected by the proposed legislation. In the worst-case scenario, the new proposals could see the end of F1 in EU countries.
Under the proposed plan, police would be entitled to halt races in order to investigate crashes as if they were standard RTAs. They could also conduct document checks on racing cars, including insurance checks. The issue is that racing cars are not designed to be driven on regular roads so are not registered or insured to do so. The plans would also apply to vehicles driven on private land, including tractors used on private farms. While it is still early days for the proposed law changes, F1 industry bosses and other interested parties have already started campaigning against the proposals. At this stage, it seems unlikely that no special dispensation will be given for designated racing vehicles and properly managed and licensed events.