Renault backs push for lower costs in F1

(GMM) Renault boss Flavio Briatore has backed Luca di Montezemolo's push to cut costs in formula one.

Montezemolo, the president of Ferrari, told an Italian newspaper this week that reducing spiraling expenditure is "crucial" to the sport's future.

The Milan-published Corriere della Sera said Ferrari's budget in 2006 was more than $330m.

By the German news agency 'sid', Montezemolo's countryman Briatore is quoted as saying that Renault is already "trying" to reduce costs.

He added: "In numerous areas we are beginning to use less workers than some other teams do.

"In addition we put young drivers under contract," Briatore insisted, referring to the replacement for 2007 of back to back champion Fernando Alonso with the rookie Heikki Kovalainen.

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