FIA president Jean Todt is not concerned about the possibility of Ferrari vetoing a move to lower the Formula One budget cap from 2021.

F1 teams are set to vote on reducing the limit on spending to $145million in 2021, with annual $5m reductions for the following two years.

Ferrari has claimed it would have to consider its future in the sport if the restrictions become too great, with McLaren and others wanting the cap set around the $100m mark.

Asked about Ferrari using its controversial veto to shoot down the proposals, Todt told Sky Sports: "Don't be provocative or negative. I don't have any fears on that.

"I hope that everybody will have the good sense of responsibility in the present situation to help us to achieve what is needed for the best of Formula One, the competitors, the promoters and the governing body, the fans.

"That's what we try to achieve. I do respect Ferrari for their history and their contribution and I am sure they are willing to keep at a high level their contribution to what we are building."

He added: "What we are going to present for the future is going in the right direction. Clearly, we are going through an unprecedented economic situation and that it is why there is an opportunity to take a direction we would not have taken.

"I really hope that everybody will be able to stay on board and in that sense the purpose of the new global regulations is to give as much chance for all the competitors to remain in the sport in the future.

"It will be the post-COVID-19 situation, where it will have hurt and damaged a lot of manufacturers, competitors, private teams sporting federations, sponsors and media so we will need to see how we can all work together to be as supportive as possible towards each other. That will be the next step."

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Ferrari will be without Sebastian Vettel following the 2020 season after it was unable to reach an agreement on an extension to the four-time champion's contract.

With Renault appearing the only realistic option – though Mercedes is understood to be monitoring the situation – and Fernando Alonso also linked to that seat, it has been suggested the German could head into retirement.

Asked if that could be the case by 2021, Todt said: "Again, I correct you. Be more positive.

"Sebastian Vettel is one of the greatest talents in motorsport. An announcement has been made that he will not drive for the team beyond 2020.

"There are a lot of other opportunities. We can only wish him the best and I mean that. Whoever will take him will be very lucky.

"Maybe he will be a good president of the FIA in the future. You never know."