Earlier today, ahead of the first free practice session for the Austrian Grand Prix at the Red Bull Ring, the FIA and Formula 1 teams met to talk about several problems, including the budget cap and the recent Technical Directive regarding the changes which the FIA plans to introduce to limit porpoising. The meeting was concluded with several important agreements, including a small increase in the budget cap for the current Formula 1 campaign.
Rising inflation rates have severely affected Formula One teams, which, as confirmed by the FIA, leads to a risk of non-compliance with the financial rules and regulation without any action. Aware of the unexpected increase in costs, the FIA has decided to allows a 3.1% increase in the budget cap. Only one team was opposed to this.
Technical Directives postponed
The so called Technical Directives that will introduced some significant changes in order to limit porpoising and address the issue of flexi-wings will only come into effect from the Belgian Grand Prix after the summer break. According to the FIA, the French Grand Prix, which is scheduled to take place in two weeks time, comes too soon and during the summer break the factories are closed in August. As a result, the FIA believes it is a good idea to allow teams more time to prepare. The stricter controls introduced from the Canadian Grand Prix onwards will be continued by the FIA.
In addition, in 2023 there will also be four test days outside Europe during the pre-season period, which will most likely take place at the Bahrain International circuit.
Here is the full statement following today’s Formula 1 Commission meeting:
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