Formula 1 teams can look forward to cheaper engines in 2016 while Pirelli have been granted four days of testing.
Formula 1's Strategy Group met earlier this week to discuss various proposals of which cost cutting topped the agenda.
According to Autosport, the teams agreed to reduce the costs of the 1.6-litre V6 units.
At present the engines sell for around £15 to £20 million per season but as of next year that will be down to £9m.
Added to that gearboxes will be capped at £1.5m while windtunnels will be banned.
The publication added that all these measures had been passed by a majority vote but still have to be ratified by the F1 Commission and the World Motor Sport Council.
There was also good news for Pirelli.
Formula 1's tyre manufacturer has been granted two days of testing prior to this season's Abu Dhabi Grand Prix.
The Italian manufacturer will also spend two days in January, tyre testing their wet compounds at the Paul Ricard circuit in southern France.