Highways across Britain could soon be allowed to host motorsport races under new plans unveiled by ministers.
A consultation has been launched to find out whether councils should be given greater powers to authorise such events on public roads.
Local authorities can currently allow roads in their area to be closed for sport and leisure events.
But they do not have power to suspend the Road Traffic Act - which means speed limits and other traffic signals must remain in force.
The new consultation will ask whether this restriction should be removed.
It is thought there could be demand for up to 20 major events annually across the UK, which could generate around £40 million over the next five years.
Roads Minister Robert Goodwill said: "Carefully-managed motorsport events are not only great fun and popular, but they make a valuable contribution to the economy."
Culture Secretary Maria Miller said motorsport events attract legions of fans and could help drive investment.
She added: "Looking at whether local authorities should be able to close public roads for road races and other motorsports could mean millions of extra pounds going to local communities."
Copyright Press Association 2014