FOTA hoping for cost-cut ideas backing

FOTA members met last week as they continued to discuss ideas to reduce costs and increase revenue, as Honda announced its withdrawal from Formula One with immediate effect due to the financial crisis.

Among other changes, the teams' body is hoping to revise the amount of money paid to competitors.

With FOTA members due to meet with FIA president Max Mosley in the next few days to discuss their proposals, Howett, who admitted he was surprised by Honda's decision, is hoping their ideas get the support "they deserve".

"It was a surprise to all of us," Howett told the official Formula One website about Honda's exit. "I certainly cannot speak for other manufacturer teams - I can just explain what we are doing.

"Toyota is contributing to the FOTA (Formula One Teams Association) activities which will achieve significant cost reductions whilst maintaining the spirit of the sport.

"We hope FOTA's proposals and activities will be given the widespread support they deserve, as they provide the sound, stable base Formula One requires at this time."

Howett, whose team have insisted they have no plans to leave F1, is also confident the Japanese manufacturer has done a good enough job to survive the crisis.

"I think if you look at the situation you would say the banks were and are very hard hit, the construction industry has followed and it is filtering down to all other industries, including automotive," he added.

"As an organization we have a very clear view of what drives costs and we have a very clear view on how to manage and control them, so I am confident that we can and will survive the recession.

"Simply put, we will have to make less resource go much further and I predict that the motorsport supply base will be the hardest hit as teams do less and in-source much more. "