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Hey big spenders!

Ferrari is the biggest spender in F1, while Hispania has the least cash to splash, according to a new industry report.

The latest edition of Business Book GP reveals that teams have succeeded in cutting costs due to a resource restriction agreement, with the average annual team budget decreasing from from 209 million euros in 2009 to 113m in 2011.

Ferrari’s budget is highest at 199 million, while Hispania is lowest with a paultry 34 million to play with.

Not every team is spending less - reportedly Team Lotus is spending a heap more money in 2011, and Virgin, Sauber and Red Bull also have bigger budgets.

In comparison, Ferrari, McLaren, Mercedes and Renault are now spending less money, and instead relying on sponsorship deals for around 50 percent of their budgets.

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