Peter Digby, Xtrac President was invited to a Formula 1 reception on Tuesday 4th July 2023, at 10 Downing Street which was hosted by The Rt Hon Mark Harper MP, Secretary of State for Transport.

The event was a thank you and an acknowledgement for the importance of F1 and the racing industry to the British economy.

The motorsport industry employs more than 40,000 people in the UK, while the British-based F1 teams are reported to invest an estimated £1bn into research and development each year.

Silverstone alone tends to generate around £100m for the surrounding area from the race weekend.

Other attendees included Red Bull’s Christian Horner, Stefano Domnicali, CEO of the F1 Group and Sky Sports commentator Martin Brundle.