ShogunNoire: Without budget caps, either the smaller teams get priced out of Formula 1, or they'll all have to adopt Haas' system of buying as much as they can from the richer teams.

Oliver Wylie‏: F1 needs to decide what it actually wants to be and not pander to the whims of the manufacturers.

Bob Miller: Liberty presents plans for F1 future, but no mention of getting tracks and cars that can actually result in races with overtaking and exciting wheel-to-wheel racing.

Simon Bristow: Enforce limits on turbulence behind the car to enable cars to follow closer and improve overtaking potential. And don't kowtow to Ferrari and McLaren - fastest lap times may reduce by a few 10ths of a second, but spectacle will increase, improving £ potential.

Fernando Alonso came fifth in Australia - better than any result he achieved in 2017 - and he is eighth quickest so far, two places in front of team-mate Stoffel Vandoorne.

Sebastian Vettel is 11 thousandths of a second off team-mate Kimi Raikkonen who is quickest. Vettel heads back out there to see if he can do any better.

Image source, Reuters

Valtteri Bottas and Daniel Ricciardo have got in each other's way. Neither driver sounds too impressed with the other one. Bottas is third quickest, Ricciardo is fifth fastest, while team-mate Verstappen is down in ninth.

Two Ferraris in first and second, then two Mercedes in third and fourth. Work for the constructors' champions to do.

At the moment, Nico Hulkenberg in his Renault has jumped up to fifth in the standings. Team-mate Carlos Sainz is only 14th.

And, as expected, Lewis Hamilton with the red super-soft boots on is back on track. It has not been the best of days for the world champion who ran a bit wide on a couple of occasions earlier on and is fifth fastest so far in session two.

Image source, reuters

Chris Cottrell‏: Shorten the race to an hour, makes it more ‘watchable’. Currently with build up, race and post race, it’s easily four hours of my life gone.

Scott McCarthy: I’d improve F1 by banning pit to car radio, but enabling car to car radio. Can you imagine hearing Vettel and Hamilton arguing on track? Grab some popcorn!

Amit Mandalia: F1 has the ability to go drastic like Formula E’s Gen2 car for 2021 but it’ll probably end up being a half-hearted solution with cars that look predominantly the same as they do now.

And as expected the super-softs come up trumps and Kimi Raikkonen is again the quickest at 1:29.817.

Expect a lot of the drivers to take to the red tyres and get themselves back out there.

That order could well change as Kimi Raikkonen has jumped on to the super-soft red Pirelli tyres.

1. Sebastian Vettel
2. Valtteri Bottas
3. Kimi Raikkonen
4. Daniel Ricciardo
5. Lewis Hamilton
6. Max Verstappen
7. Stoffel Vandoorne
8. Pierre Gasly
9. Fernando Alonso
10. Carlos Sainz
11. Esteban Ocon
12. Charles Leclerc
13. Kevin Magnussen
14. Sergio Perez
15. Lance Stroll
16. Nico Hulkenberg
17. Brendon Hartley
18. Romain Grosjean
19. Marcus Ericsson
20. Sergey Sirotkin

Image source, F1

"Can I have another lap?" asks Max Verstappen.

"If you want to Max," is the reassuring answer he is given by his team.

Image source, Getty Images

Tim Hayward: Easy, refuel (still keep 100kg limit) and minimum two stops. Should avoid nonsense in tyre saving and increase time spent drivers pushing.

Harry Gasper: I would have a budget cap of 125 million dollars per car, but no limit on entries. Smaller teams could enter one car or two but have a strong entry. Mercedes, Ferrari et al could enter three or even four cars. Also more controls on sensitive aerodynamics-bring back ground effect.

Darryll‏: Make tyres durable but less grippy - like driving a wet race in the dry.

Stewart‏: Qualifying is pretty much ideal, however I'd add in a single point for pole position. Its not enough to have a huge impact on the Championship, but it adds a little more competition. A point for fastest time in Q1&2 may be too much.

All change at the top. Firstly Valtteri Bottas goes fastest, but that only lasts a few seconds before Sebastian Vettel, on the softs, crosses the line with a 1:30.041, four tenths quicker than Bottas' mark.

Raikkonen, Ricciardo, Hamilton and Verstappen make up the rest of the top six.

Daniel Ricciardo is warned of some oil on the track, around the turn two area, and that could well be the reason Marcus Ericsson lost control a few moments ago.

Max Verstappen's second session is already better than his first. He comes up with a timed lap of 1:32.134, the fourth quickest of session two.

Kimi Raikkonen, Daniel Ricciardo and Stoffel Vandoorne have all gone quicker than the Dutchman, but at least he is out there after his electrical problems earlier on today.

We saw Charles Leclerc spin earlier on and his Sauber team-mate Marcus Ericsson has just done likewise, spinning at turn three and going through the gravel.

"All OK, I need to box," says Ericsson, who was lucky not to prang his car into a wall.

Rob Robinson: Allow ground effect aerodynamics and reduce the wing sizes to make overtaking easier without slowing down the cars.

Natnael Guliano: To improve F1, I think that the engine should be a V8, and also I would prefer big manufacturers like Aston Martin or Alfa Romeo replacing teams like Sauber since I think the spending cap should be removed.

Sam Donaldson: If it’s me I’d have refuelling, unlimited choice of tyres to start the race, tyre war, v10 engines, unlimited testing and weight added to defending champions to even competitiveness!

Darryll: Points for qualifying and fastest race lap times (maybe fastest 5 laps combined), incentives for drivers to actually drive as fast as possible as much as possible. Maybe x number of boosts per driver to use at anytime during the race?

Kimi Raikkonen storms to the top with a 1:30.689. That is the fastest of the day, beating Daniel Ricciardo's best effort from earlier on, which was 1:31.060.

Raikkonen is more than 2.6 seconds faster than anyone else in this second session. Lightning.

The Haas duo - Kevin Magnussen and Romain Grosjean - are the first two out there. Magnussen slightly quicker at 1:33.366.

They are soon joined on the track by Charles Leclerc, Lance Stroll, Sergio Perez and Brendon Hartley.

Most cars are on the yellow soft tyres. Remember, we have the white mediums and the red super-softs as other options.