Formula 1 must remain attractive to potential new teams, according to Williams deputy team principal Claire Williams.
Bernie Ecclestone revealed last weekend that two new teams could join the sport in 2015 but in Bahrain FIA president Jean Todt confirmed that plans for a cost cap have been scrapped.
The FIA was set to introduce a cost cap ahead of the 2015 season but with those plans abandoned, Williams insists that Formula 1 must ensure that the sport is viable for current teams and potential new outfits.
"We all know that there have been endless discussions about it - whether you call it budget cap or cost saving or cost control - and it is hugely important," she told the Official F1 Website.
"I don’t think it is just important for an independent team like Williams - it is also important for our sport. We have to be open for new teams coming in, and the current costs are not encouraging that at all."
But Williams also believes that the sport needs to ensure that the current 11 teams can operate in a sustainable manner.
"You have to make sure the teams you have can survive. We have to make sure that the discrepancy is not getting too big - for the racing, and consequently for the fans. And we have to stay relevant. If we start spending what we did ten years ago - almost half a billion a year to go racing - people who look at this from the outside will think ‘what the hell is Formula One doing?’
"No partner or sponsor would be able to justify that. Raising that kind of budget is simply no longer feasible in the current economic conditions."