A budget cap is set to be introduced to Formula 1 in 2015.

It has been announced that a working group will be established to finalise the regulations of the budget cap. This group will comprise of members from the FIA, the commercial rights holder in addition to members from the various F1 teams. This team has been set the task of finalising the regulations for the cap by then end of June 2014.

It is not clear what the budget cap will apply to; however previous proposals have included exemptions for driver salaries and marketing campaigns. Previous attempts to institute budget caps in the sport have been opposed several teams in the past.