Blaenau Gwent MP Llew Smith

Thirteen years since its rebirth began, Cardiff Bay is said to be developing as Wales's biggest tourist attraction.

It has been a massive regeneration project, with �0.5bn of public money to turn 1,000 hectares of derelict land into first-class sites for housing, business and leisure.

But for politicians like Llew Smith - representing one of the poorest parts of Wales - the level of investment here is "obscene".

"With the Assembly we were told that we were going to have new politics for a new Wales.

Ex-Frist Secretary and Cardiff MP Alun Michael

"In fact, the new politics is we will rob the poor and continue to give to the rich not just for this year or next year but every other year.

Local MP and champion of the redevelopment of the Bay Alun Michael says that is ridiculous.

"It needed redevelopment and that redevelopment is not just about Cardiff, it's about the people from the Valleys people that come down from Cynon or Rhodda to work in this area as well.

"And it is about showing a vibrant economic successful capital because that then if the face for the whole of Wales."

Assembly First Secretary Rhodri Morgan who has retained responsibility for economic development, his spokesman said the decision to redevelop the area was one taken by successive governments.

The Assembly could not re-write history, he said, and would not allow Cardiff Bay to become a stagnant lagoon.