The FIA has confirmed that the budget cap will remain in place in 2021, in spite of the new technical regulations being deferred by a year.
Formula 1 was poised to introduce an overhaul of the regulations for the 2021 campaign but these changes have now been delayed until 2022 due to the coronavirus.
Formula 1 chiefs, the FIA and all 10 teams conducted a conference call on Thursday to unanimously approved that change.
But the budget cap, which was being introduced to coincide with the regulatory overhaul, will still be enforced in 2021.
A statement added that “discussions remain ongoing between the FIA, Formula 1 and all teams regarding further ways to make significant cost savings.”
All respective parties vowed to work together in order to restructure the 2020 calendar in the best way possible.
The opening seven rounds of the campaign have already been cancelled or postponed due to COVID-19.
The current cars will be used throughout the 2021 season “due to the currently volatile financial situation”, with all 10 teams unanimously agreeing to such a development.
It added that “the potential freezing of further components will be discussed in due course.”