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Wolff: Cost cap compromise needed to allow staff salary rises

Mercedes team principal Toto Wolff says there needs to be an agreement on changing Formula 1's budget cap this year in the face of spiralling inflation, higher energy costs and increased freight charges. Several teams have already warned that they don't have sufficient budgets to race at all 22 races this year, while Wolff is concerned that teams are having to focus their cost cutting on staff salaries. The $140 million cost cap was agreed years before inflation started to rise sharply around the world in the wake of COVID and the Russian invasion of Ukraine, and Wolff pointed out that salaries are no longer keeping up. Read also: Mercedes in 'no man's land' – gap to leaders...
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