Holtham's calculations are based on what extra funding Wales should receive in a needs-based formula.

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Gerald Holtham's work was apparently respected within Whitehall and even if he doesn't chair the Welsh Calman his previous reports could form part of the new commission's report.

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Separate discussions will continue between the UK Government and the Welsh Government on Holtham's proposals for funding reform for Wales and they will be extended to include the operation of existing borrowing powers.

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The documents say former Welsh secretary Peter Hain and ex-first minister Rhodri Morgan made representations to the Prime Minister to consider the Holtham Commission's findings.

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Mr Holtham added: "It's very important therefore to be careful in negotiations and also to make sure that the projects you're spending it on are really worthwhile for the economy because you will be paying for them".

BBC: Wales