Formula One's budget cap is likely to start off at €175million during the 2009 season, according to Autosport.
The figure was revealed in a letter from FIA consultant Tony Purnell to Formula One teams.
The proposed cap - which excludes expenditure on engines, KERS systems, marketing costs or driver and team principal salaries - will start off with €175million after which it will be reduced to €140million by 2010, and €110million a year later.
However, opinion from team bosses on the budget cap has differed.
McLaren boss Ron Dennis believes it will be difficult to monitor the amount of money spent by different teams.
"I don't see a budget cap as a regulatory process more the application of common sense," Dennis said.
"I don't think it's a question of enforceability but if there's a general ability to control costs when you've got the complicity of companies that have their R&D facilities in other countries where these programmes are in very difficult to understand languages and documents."
Honda Racing CEO Nick Fry welcomed the introduction of the budget cap, but admits the finer details need to be discussed.
"Next year's figures are workable, but Honda is a little concerned about the glide-path, which needs more discussion," Fry said.
"By pushing the number too low, we may not only attract marginal operations but also alienate those at the top who want to develop high technology."
Renault's Flavio Briatore believes the budget cap won't affect his team too much.
"I already pay 40 per cent less than the cap. If I want to keep to the limit then I need to spend more. It's nonsense," Briatore said.
"Formula One is part of the environment and the economical situation and the sponsors, the manufacturers - we are part of the economical world. Maybe not today or tomorrow but surely in the future it will affect us. F1 needs to be competitive, F1 is a better show and less investment and costs less."
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