Hiya not many on at this time so i thought i'd lend a hand so here goes; the light in question is your anti lock brakes light (ABS) and they have sensors on to tell you your brake pads are low which sounds to me like your problem mate. i'm 99.9% sure so don't go too far if anywhere and expect your brakes to save you cos chances are they won't, take a look or get them checked out ASAP. hope this helps you out, Good luck with it, Regards, Grant.