Ferrari reveals its proposals

The teams, minus Ferrari, released their own set of proposals to cut costs early last month, which included a limit of 24 days of testing during the season, something that the world champions are thought to have strongly opposed.

In a statement released by the team today, Ferrari said: "What has been proposed would not be effective and would not produce a real reduction in costs, as well as leaving the teams to work in a not very efficient fashion."

Instead Ferrari has proposed a limit of 15,000 kilometres of testing per team, for the purpose of developing the car, which would take place at one nominated track. In a bid to "establish some sort of parity between the two tyre constructors", Ferrari has also proposed a maximum of an additional 15,000kms dedicated to tyre development for each of the two companies. Testing would be split between each of the teams and would take place where the chosen team was already testing.

The use of third cars on the Fridays before a grand prix was also addressed. While Ferrari admitted that the arrangement would be "incompatible with a further reduction in private testing", it said it would not be opposed to the use of the third car if the teams then reduced their overall mileage covered in private testing.

More significantly, Ferrari said that if its proposals were not accepted then the team would comply with the current rules that govern testing which allows teams to carry out as much mileage as they want at any track of their choice.

"It's very simple: we will all be free to test how and where we like," the statement read. "Having said that, we are aware that the issue of costs affects everyone and we have to move towards a reduction."

Ferrari added that it would release a more comprehensive proposal in the coming weeks that would be based around proposals by the FIA that have already been agreed by all the teams earlier this year.

"As was already said in Sao Paulo at the Brazilian Grand Prix, we will rapidly present a more comprehensive proposal, which will take into account information supplied by the FIA last May, with which we are in agreement."