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Wolff: Budget cap adjustment will help manage staff salaries

2022 Monaco Grand Prix 2022, Sunday – LAT Images. Credits: Mercedes.

Toto Wolff believes that the budget cap adjustment will help F1 teams deal with staff salaries affected by inflation.

Budget cap has become a concern for the teams as they are trying to stay within the limit despite inflation and increased freight costs. One of the solutions to the issue may be lifting it up. However, there are opposite views about the idea in the paddock.

Wolff puts emphasis on the fact that the budget cap adjustment is needed not to allow the teams to spend more money, but to control staff salaries.

“It’s not that we want to generate more profit, it’s literally allowing people to have their salaries compensated for the extraordinary inflation they are suffering from,” the Mercedes team principal said.

“So, it’s not that we suddenly want to have more, but let’s stick to the fact when we entered the year and the premises that we ended the year and then let’s look at the numbers now. And then hopefully we can find a way to adjust.

“I think the worst for the sport is having a stubborn position that some of the smaller teams think that the big ones are trying to gain an advantage and we’re actually going to screw them by not allowing them to do this and us on the other side seeking to lift the ceiling, which we don’t want to do.

“And I can tell you from my position as a team owner, I don’t want to lift the ceiling just to have a cost cap ever increasing and basically outmaneuvering the initial concept, but I want my people to be well paid especially in such tough circumstances.”

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