A British newspaper has revealed the FIA's five-year plan to radically slash costs, with the body's president arguing formula one has become "unsustainable".

The centrepiece of the package, to be discussed with the F1 teams' alliance FOTA next week in Geneva, is the standardisation of expensive car parts that add little to the show.

The London publication The Times claims that Bernie Ecclestone, the chief executive of F1's commercial rights holder, backs the Max Mosley-devised plan to "dramatically" cut costs.

Among the measures is the introduction of a controversial standard engine design for 2010, additional energy recovery systems and fuel-efficient engines for 2013, and many "common parts" for the chassis.

"We are completely open to new ideas," Mosley, albeit insisting that engines must be made available to small teams at a low cost, said in a letter to the team bosses.

An FIA spokesman said he will not comment prior to the meeting.