What is the benefit of a cost cap on R&D?

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Surely it will discourage major manufacturers from entering F1, if this was in-place before Mercedes would never have been able to develop their masterpiece hybrid engine for the 2014 season.

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RobGT81 said:

Engine development isn't covered under the cost cap.

Interesting, that would imply that the engine will become an even more important part of the formula in the coming years.

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StevieBee said:

In F1, there is a risk that uncapped spending could lead to a three-tier formulae with the wealthy manufacturers at the top, the less wealthy manufacturers in the middle and the privateers at the back.... or it would see off the remaining privateers entirely.

Capping R&D adds a restrictive dimension in such a way that - in theory - also flattens the paying field as the teams are are working within the same basic framework, technically, regulatory and financially. At the moment, it's only the first two that prevail.

Whether or not this will dissuade the manufacturers from participation will depend largely on if they think they can develop things within this cap. I would suspect that they will and will continue to prevail and so be better off as a result of gaining the same exposure for less investment.

It seems quite evident to me that we already have a 3-tier formulae, no team other than RB, Mercedes or Ferrari has won a race in almost 7 years.

As for parity, if the engine becomes and even more important part of the formula then I would think i would give even more of an advantage to factory teams who design the engines with their cars in mind.