Ecclestone has issued another warning that the track must be improved if it is to host a race after the current contract expires.

“I think we’ve got a contract up to 2009,” he told BBC Radio Five Live’s Sportsweek. “After that, I’ve no idea.

“They know what they’ve got to do if they want to retain it. But maybe they don’t want to.”

Asked if he could contemplate the possibility of the British Grand Prix dropping off the calendar, Ecclestone said: “Yes, quite easily after 2009.

“There are a lot of things. They need to be paying the rate other Europeans are paying, they have to get the circuit and track up to a standard. It can’t be comparable to most of them but it needs to be an acceptable standard.”

Ecclestone believes Hamilton’s team McLaren have no reason to favour Hamilton over team-mate, title rival and defending champion Fernando Alonso, because the 22-year-old rookie is so good.

“Of course it’s fair. All the races are fair. I don’t think they need to favour anybody, I think Lewis will win quite easily so I don’t think there is any necessity to favour anybody.

“If he continues as he is he can be world champion. But if they (Silverstone) continue the way they are there won’t be a British Grand Prix.

“What is disturbing for me is the fact you’ve got the Government spending vast amounts on the Olympic Games and the small amount they need to do to support the people running Formula One in Silverstone, they are not prepared to do it.”

Asked whether it is the duty of Formula One to give Silverstone the financial backing needed, Ecclestone countered: “We don’t need to put it right. We can go somewhere else, we don’t need to be in England.

“We’re not begging to have the race at Silverstone. There are plenty of places waiting for a race.”