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FIA confirms cost cut plans and updated regulations

The FIA has announced a number of updates to the 2014 and 2015 Formula 1 regulations following a meeting of the World Motor Sport Council in Geneva today. The sport's governing body also confirmed that the introduction of cost control and reduction regulations for 2015 was unanimously agreed to yesterday at a meeting of the F1 Strategy Group, which was attended by FIA president Jean Todt, Bernie Ecclestone and F1 team representatives. These plans will now be presented to the World Motor Sport Council in June. Several amendments to the 2014 Sporting Regulations have been made, although these are all subject to ratification. Stewards will be able to impose a five-second penalty which can be...
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