Prime Minister David Cameron has left the Stormont talks saying a deal was "not possible."
He did however say that if an agreement could be reached he would be prepared to table £1bn in for a financial package introduced in the next five years.
Sinn Fein were most opposed to the offer, with Deputy first Minister Martin McGuinness saying the party was "underwhelmed" by the package offered.
He said: "None of us - not any of the parties - believed this was a realistic financial package.
"We have approached this in a positive and constructive mind.
"Unfortunately during the course of this, despite what the Prime Minister has said, there was no credible financial package to executive ministers to allow us to tackle the austerity agenda imposed by the British government.
"We won't give up and believe we still have a major contribution to make and work is still to be done."
David Cameron said: "A deal is possible, the parties have done a lot of good work.
"The real work needs to be done is to make sure the budget of the Northern Executive is sustainable and works.
"So intensive work needs to be done by the parties on that issue."
"That sort of financial help is on the table if the politicians here locally can agree the issues of flags, parades and the past and set their own budget in a way that is sustainable," he added.
"If they do those things, I stand ready and the UK taxpayer stands ready to help."