Giving prizes for the fastest promotes dangerous cycling. This should be kept to closed roads, tracks etc..
Most racing in the UK is done on the open roads, whether that racing is time trials or bunch races such as road racing. These events have winners and prizes and are highly competitive. Racing does inherently increase risk, more so for some individuals than others, however there are laws that govern such events in order to mitigate such risks.
As much as I do love racing on a closed road, I don't think racing should be confined to only being carried out on closed roads, I think current regulation and new schemes such as the BC Accredited marshal scheme are making sufficient strides to maintain and increase safety in such events. In 40 or so races this year that I have taken part in on the open roads, I know of only 1 accident, a rider came off on a bend, he was riding solo, there was no outside interference, no-one else involved in the incident, arguably he wouldn't have crashed had he not been pushing hard during a race, but that is 1 rider, in 40 events, of which each will have had at least 50 participants. So 1 in about 2000. Probably quite a bit less when you factor in some of the events had over 100 participants.
I am not arguing anti-sportive, I am arguing that there should be equivalent legislation surrounding sportives as there are road racing or other mass start competative events.