Formula One is an expensive business. Last season, Force India spent an estimated 80 million pounds on a car that failed to win any points. Williams spent an estimated 100 million pounds but still finished eighth. Ferrari won the constructor's championship but is thought to have spent an estimated 275 million pounds in the process.??

Little wonder then that Ferrari and other big teams hate the idea of a 40-million pound cap on research and development.

“No compromise. We don’t want to make any step back. Really, no compromise. We want no budget cap, same rules for everybody, clear rules, and that’s it, there.”

History suggests Ferrari might get its way.

In 1986, Ferrari fell out with the authorities and threatened to leave Formula One to compete in the Indianapolis 500. They even went as far as building the car but it was never used, because in the end the authorities backed down.

Ferrari says it will spend what it wants. The FIA says a budget cap will be imposed, irresistible force, immovable object. But it isn’t over yet.