Formula 1 chief executive Bernie Ecclestone has insisted that he wants to keep the Australian Grand Prix in the race calendar, despite opposing views from within the country.

The Melbourne race has come under questioning following discontent from residents and politicians, who are angered by the amount of costs that have fallen on the taxpayer to host the event.

"We hope we're going to be in Melbourne forever," Ecclestone told the Australian GP's Keeping Track podcast. "We're happy with Melbourne and I'd be happy to sign a 50-year contract. We don't have a problem with Melbourne.

"I understand we do get a little bit of criticism. I don't know why. You start wondering are we really wanted in Melbourne? It appears to be [wanted] now.

"Whenever these sorts of things happen I'm told, 'Don't be silly about that, it's just one or two people making a noise. We're happy for Formula One to be there.'"

F1's contract with the Melbourne venue runs out in 2015.