Milton Keynes benefits from the 'Red Bull effect'

The benefits of having a Formula One racing team based in your town will be highlighted at a special ceremony in Milton Keynes.

The Red Bull Racing Formula One team plays a vital role to the town.

As well as pumping millions into the local economy, it employs more than 500 people and attracts new investment to the town.

Later tonight the team which is based in Tilbrook will be awarded the Freedom of the Borough.

Click below to watch Russell Hookey's report.

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Red Bull awarded Freedom of the Borough of Milton Keynes

The Red Bull Formula One racing team based in Milton Keynes has been awarded the Freedom of the Borough.