Budget cap increased, technical directive on porpoising postponed

On Friday morning in Austria, the FIA and Formula One teams met to discuss issues including the budget cap. The meeting led to a number of agreements, including a small increase in the budget cap.

Rising inflation rates have affected Formula One teams, which, according to the FIA, creates a risk of non-compliance with the financial regulations if no action is taken. Acknowledging the unexpected increase in costs, the FIA allows a 3.1% increase in the budget cap. Nine out of ten teams have agreed with this.

The so-called Technical Directives due to porpoising and flexi-wings will only come into effect from the Belgian Grand Prix at the end of August. According to the FIA, the race in France is too soon and during the summer break, the factories are closed. Therefore, the FIA wants to give the 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 in the preseason. So it looks good for the circuit in Bahrain. The full statement of the FIA can be read below.