In addition to the ideas being formulated at his request by the Formula One Teams' Association (FOTA), Max Mosley is believed to have come up with his own five-year plan for the sport's future - aimed at drastically cutting costs, improving environmental efficiency and generating a better on-track spectacle.

The necessity to bring F1's escalating expenditure down has been highlighted by the credit crunch sweeping the globe at present, and Mosley has long contended that in any case, many technological advances have precious little impact upon fans in the grandstands or in front of television screens.

The FIA President, Pitpass claims, hopes one day that teams will be able to put two cars on the grid for a sum equal to the TV rights money they receive from commercial rights-holder Bernie Ecclestone's Formula One Management company, with ideally all ten teams to be apportioned an equal share of the funds - between ?40 million and ?50 million, less than a third of what some outfits currently spend.

Mosley is due to meet with FOTA in Geneva next week where, Pitpass states, he will unveil such ideas as the introduction of a standard engine as of the 2010 season - a move heavily favoured by Ecclestone - power trains to fully incorporate heat and exhaust recovery systems from 2013 and the implementation of more 'common parts' on chassis', including standard suspension systems, wheels and underbodies.

"We are completely open to new ideas," Mosley wrote in documents sent to the teams ahead of the meeting, reports British newspaper The Times. "The only pre-conditions are (i) that the costs of development, maintenance and unit production for the power train must be an order of magnitude lower than is currently the case, and (ii) power trains must be available to independent teams at minimal cost."

It has already been mooted that, in the wake of Super Aguri F1's collapse earlier this year, even manufacturers could be at risk of withdrawal from the top flight should spending not be reined in - and fast [see separate story - click here].

"There is now a real danger that, in some cases, these subsidies will cease," Mosley continued. "This could result in a reduction in the number of competitors, adding to the two team vacancies we already have and reducing the grid to an unacceptable level.

"The FIA's view is that Formula 1 can only be healthy if a team can race competitively for a budget at or very close to what it gets from FOM."