 The Welsh-born Parry-Jones is Ford's chief technical officer |
Ford boss Richard Parry-Jones believes Formula One team budgets should be capped as a way of reducing the sport's spiralling costs. Parry-Jones, whose company owns Jaguar Racing, believes budget capping would make teams more efficient in how they spend money.
He is also confident that the proposal could be policed.
"You would have to impose draconian penalties if you are found to be violating the rules," he said.
Jaguar's F1 budget is around �150m but that is well short of many of their rivals, with Ferrari spending around �240m each year in their pursuit of glory.
FIA president Max Mosley is determined to reduce costs in F1 and Renault chief Flavio Briatore warned last weekend that budgets needed to be cut by 50%.
But big-spending teams like Ferrari and Toyota are unlikely to agree to a voluntary cut.
MMIX
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