SHANGHAI, China - Formula 1 will move to put cost-cutting efforts back on the agenda during a meeting on May 1 2014.International Automobile Federation president Jean Todt is apparently considering new measures, among them reviving active suspension, since a new top teams-dominated strategy group blocked his move to impose budget caps in 2015.The May Day meeting has now been called.'NEVER TOO LATE'Sauber team principal Monisha Kaltenborn said: "Time is running out. Actually, the time for this decision is long gone, but it's never too late."F1's smaller teams are angry that their more powerful rivals are thwarting moves to reduce spiralling costs so are reportedly threatening to challenge the strategy group against European competition laws. Force India chief Bob Fernley said: "It's not about small or big teams, it's about the future of F1."However Red Bull - one of the top teams - principal Christian Horner insists the biggest teams are not opposed to reducing costs but added: "We need to identify the cost and equalise the playing field for every body."Todt and F1 supremo Bernie Ecclestone will meet on May 1, ahead of the Spanish GP scheduled for May 11.Kaltenborn concluded: "I hope we find some solutions and that it doesn't become another of those meetings at which no progress is made."Stay with Wheels24 for the 2014 F1 season – fresh reports every day.