FIA president Max Mosley is calling for more measures to be made to cut the costs required to compete in the Formula One World Championship.

In a letter to the Formula One Teams Association [FOTA], which is meeting today at Heathrow, Mosley added while the decisions made last month were good, there can be no let up - especially given the current economic climate.

"We had a championship dependent on the willingness of the world's car industry to continue spending vast sums on Formula One racing and the few remaining independent teams (with one exception) entirely reliant on the generosity of their billionaire owners," he said.

"In current circumstances, it would be crazy to assume this can continue.

"Costs must be reduced to a point where a well-run independent team can operate profitably with just the FOM (Formula One Management) money and very moderate sponsorship.

"This is the only way to safeguard the championship and allow new teams to enter to fill the gaps as well as replace those leaving."

Mosley meanwhile also went on to add that budget capping is also something that should be seriously considered in the not to distant future.

"The idea that each team should have the same amount of money, so that success is simply a function of intellectual ability, has great appeal," he continued. "If properly enforced, it would be a very fair system.

"Indeed, one view is that having much more money than a rival team is just as unfair as having a bigger engine. We should like to discuss this further with FOTA."