On the eve of the British Grand Prix, McLaren’s Martin Whitmarsh is worried that the cost of Formula 1 could obliterate half the grid by 2014. So here are five ways to ensure it doesn’t happen.

1 Remove driver salaries completely. This would seem a touch harsh on the more gifted drivers such as Fernando Alonso and company, true, but the smartest drivers in F1 already earn gazillions from their personal sponsorship deals, so why should the teams have to pay them a wage as well? And if you’re not sharp enough to negotiate with the teams and sponsors on your own then either a) employ someone who is, or b) consider a career in toothbrush holesmanship instead.

2 Halve the number of engines that can be used throughout a season, from eight to four, thereby further increasing their reliability and cost. Appoint a single engine supplier (such as Cosworth or Renault, but not both) to service the private teams.

3 Forget the whole idea of soft, super-soft, prime and smooth-as-a-baby's-bum different dry tyres, and let’s have wets or dry tyres and that’s it. Imagine how much money would be saved by Pirelli alone in not having to fly 18,000 different tyres to each race, and that’s before you even mention how much money the teams would save, not having to modify and make their cars work with too many different sets of compounds to play with.