§ Mr. RedwoodTo ask the President of the Board of Trade what estimate she has made of the number of job losses which would result from the withdrawal of Formula One racing in the United Kingdom; and if she will provide a breakdown of her estimate. [16939]
§ Mrs. Beckett[holding answer 20 November 1997]: There are no official figures for employment in the motor sport industry. However, about 8,000 jobs are believed to depend on the supply of equipment and services related to Formula One. Many of these jobs would be at risk if Formula One were to withdraw from the United Kingdom. There would also be an unquantifiable adverse effect on the whole motor sport industry, which is estimated to provide around 50,000 full-time jobs.