Councils will receive Revenue Support Grant of £1,740.1, business rates of £464m and other revenue grants of £215.1m.
Mr Redwood also announced the provisional capping principles for 1994-95: 'Any increase of more than 1.75% over the 1993-94 budget requirement will be considered an excessive increase if it gives rise to a budget requirement over the authority's SSA
'Any increase of more than 1.25% over the 1993-94 budget requirement will be considered an excessive increase if it gives rise to a budget requirement over 5% above the authoritity's SSA
Mr Redwood issued £503m of capital grants and credit approvals for 1994-95, a 4% increase on 1993-94. Basic credit approvals for 1994-95 will amount to nearly £189m; a 9.6% increase on 1993-94. Provision for educational capital is increased by nearly 12% to a total of £42.5m.
Provision for environmental and economic development is increased by more than 39%, to a total of £37.6m. £49.8m has been allocated for capital projects in the Strategic Development Scheme. Housing provision is set at £265.7m with Mandatory Home Renovation Grants at £149.1m and discretionary disabled facilities grants to £27.9m.
For transport the Welsh Secretary announced: 'Total provision for transport amounts to £94m. The Transport Grant settlement of £63m will provide assistance for 30 schemes in total.'
An extra £6.3m will be made available to councils to spend on new projects for disabled people.