F1's governing body, the FIA, have shared news on various hot topics following the latest meeting of the F1 Commission. The group, comprising teams, F1 and the FIA, met for the third time this season ahead of the Austrian Grand Prix weekend. One of the headline developments is a reprieve for teams regarding the financial regulations, with several outfits commenting in recent times that they would struggle to stay under the $140 million limit amid inflation. Indexation at a limited rate of 3.1 per cent has now been permitted, with F1, the FIA and nine of the 10 teams backing the move. Meanwhile, the implementation of a recently-issued Technical Directive regarding porpoising has been pushed back to the Belgian Grand Prix, the first round after F1's traditional summer break. Updates over 2023 pre-season testing, weekend schedule tweaks and the 2026 power unit regulations were also communicated. "We are now in the middle of an historic year for Formula 1, with the introduction of completely new regulations which we have seen so far to have been a great success," said FIA President Mohammed Ben Sulayem, who opened the meeting. "[This was] most clearly shown at Silverstone where many cars were battling for top positions right up until the end of the race. "We will continue to develop these regulations in this positive direction, and we will also keep on raising the bar with regard to safety." The full statement from the FIA can be read below.
In full: FIA statement over F1 Commission meeting
Financial regulations Rapidly increasing inflation rates since the end of 2021 have affected Formula 1 teams, and it is the opinion of the FIA and Formula 1 that this creates a risk of non-compliance with the financial regulations if actions are not taken. Following consultation with the Financial Advisory Committee over recent weeks, the FIA brought a proposal to the Commission that was approved by the required majority with support from the FIA, Formula 1 and nine of the teams. The proposal recognises the unexpected increase of costs incurred by teams in 2022 thereby permitting indexation at a limited rate of 3.1 per cent (which takes into account the original 3 per cent inflation threshold already set out in the regulations) and permitting compounding of this rate as from 2023. This will preserve the long-term integrity of the Financial Regulations. Pre-season testing in 2023 The Commission has decided by majority to update the regulations to allow pre-season testing to take place outside of Europe, four days prior to the first event of the championship. Adjustment to the weekend schedule One of the principal purposes of the 2022 event format has been to allow some personnel to arrive later, thus reducing the workload on operational staff. To a large extent, this has been a success, and after the first half of the season a number of areas for improvement have been identified – specifically in relation to the parc fermé timings after qualifying. Technical matters There was a discussion regarding the draft Technical Directive that addresses safety concerns relating to the vertical oscillation of the cars (also referred to as porpoising). Following feedback and consultation with the teams and in order to allow the teams to make necessary updates to the plank and skid assemblies, which will ensure a fair application of the metric used to measure this oscillation across all cars, the implementation of the draft Technical Directive issued to the teams prior to the British Grand Prix will come into effect from the Belgian Grand Prix. The enhanced controls by the FIA introduced as from the Canadian Grand Prix will continue. Several proposed actions to address this issue in the 2023 Technical Regulations were also discussed, with clear directions to be taken to the Technical Advisory Committee. 2026 power unit The 2026 power unit was discussed by the Commission, and it was confirmed that the package of regulations is close to finalisation.
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