Formula One's governing body has proposed a raft of rule changes for 2008 to take the sport back to basics and make it more affordable for new teams and drivers.
The details included ending the sport's tyre war between Bridgestone and Michelin by limiting supply to one brand, controlled by the FIA.
Engine capacity would be reduced to 2.4 litre V8s from three litre V10s, with each unit having to last two races. Fully manual gearboxes and clutches would return with power steering banned along with the use of spare cars.
The International Automobile Federation (FIA) issued preliminary proposals this morning and summoned the 10 team bosses to a meeting in Monaco on May 4th.
FIA president Max Mosley outlined six main objectives in a letter to six of the team bosses, with the first on the list being "to improve the racing spectacle without introducing artificial rules."
The others were the elimination of so-called electronic driver aids, such as traction control, to put a premium on talent, measures to reduce the costs of running a top team and 'very substantially' cut the cost of operating a less competitive one.
New teams were to be encouraged in to ensure a full grid of 24 cars, rather than 20 at present.