It's not like the UK is short of race circuits. If they've struggled in better economic times to run F1 races at such historic and well established tracks like Silverstone, Donington and Brands Hatch i can't see how a new venue could possibly be viable, now or ever.
Aren't all modern race tracks either designed by Hermann Tilke or feel like they were, basically meaning there not too good for overtaking and are a bit boring?