Silverstone has been promised full Government support in a bid to ensure it becomes one of the world's finest motorsport centres.
The Northamptonshire circuit has consistently been criticised by Formula One supremo Bernie Ecclestone, despite millions of pounds spent in recent years on redevelopment.
Ecclestone recently proposed Silverstone share its place on the calendar with the French Grand Prix at Magny Cours, with the two venues alternating each season - a suggestion that was swiftly rejected.
The British Racing Drivers' Club, who own the track, have long stated their determination to turn Silverstone into a state-of-the-art facility.
The Government appear set to offer a helping hand, Minister for Sport Richard Caborn saying: "We are looking for the development of Silverstone, probably in a way we have never seen before.
"We really do want to see it become the international centre of excellence for performance car production, so we can continue to maintain the vast number of F1 teams in this country and also the industry itself and the supply chain.
"We don't want to see any erosion of that - and as the Government working with the industry and working with the sport, I believe we can develop Silverstone under the guidance of Damon Hill and his colleagues at the BRDC into one of the finest centres in the world.
"That will keep us at our pre-eminent position for many years to come. We have the opportunity to stay as the best in the world."
Speaking at the opening of the Autosport International Show in Birmingham, Caborn conceded it is vital to keep the British Grand Prix at Silverstone.
"It is very important - but it is part of our synergy," added Caborn.
"We have got to see the grand prix as part of the development of Silverstone, not just singularly on its own."
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