“On Monday, the FIA received a response from a number of teams present at the meeting in Milan on August 31,” said the statement. “Although constructive in tone, it contains nothing new. In particular it makes no proposal for reducing costs.
“New teams intending to apply to enter the Championship in 2008 have all made it clear that they can do so only if costs are greatly reduced. Current teams that are already committed for 2008 fully agree.
“Accordingly, the FIA is now reviewing the draft 2008 regulations with a view to eliminating unnecessary and excessive expenditure while continuing to allow technology which is road-relevant and interesting to the public.”

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