Motorsport's ruling body announced a raft of new measures Friday to help cut the cost of competing in Formula One.

The FIA reached the deal with F1 teams during crisis talks with F1 teams in Monaco Wednesday in the wake of Honda's shock withdrawal from the sport last Friday.

Under the deal, engine life with be doubled with each driver only allowed use a total of eight engines in the 2009 season while the cost of engines to independent teams will be approximately 50 per cent of 2008 prices.

No in-season testing will be permitted except on race weekends during scheduled practice while manpower is to be reduced by means of a number of measures, including sharing information on tyres and fuel to eliminate the need for "spotters".

The FIA estimates that the changes for 2009 will save the manufacturer teams approximately 30 per cent of their budgets compared to 2008, while the savings for independent teams will be even greater.

"These proposed changes have the unanimous agreement of the Formula One teams, who have played a major role in their development," said the FIA in a statement.