'The British government has made absolutely clear that this money should be used to reduce council tax bills. This is what will happen in England, and it's what must happen in Wales,' he said.
'Sue Essex accepts that council tax levels must be kept within the limits of acceptability. She needs to get a move on and take a decision that protects the interests of Cardiff residents.'
Mr Cubitt has already announced that he will bringing forward proposals to make use of council reserves and implement efficiency savings of £5m to ensure that council tax bills in Cardiff for 2004/5 are less than 5%. The additional transfer of resources would allow the council to further ease the tax burden shouldered by local residents.
'I am proposing to use this one-off transfer of funds to keep council tax increases below the rate of inflation,' he said. 'This is good news for the people of Cardiff.'