PRIME Minister David Cameron has left Northern Ireland "frustrated" after failing to reach a deal during inter-party talks at Stormont.

Mr. Cameron flew into Belfast yesterday to join the talks alongside Taoiseach Enda Kenny. The discussions went on to the early hours of this morning but after hours of negotiations no agreement on a number of outstanding issues could be found.

Ulster Unionist MLA Tom Elliott, who has been part of the talks, says Mr. Cameron returned to Downing Street frustrated at the lack of progress on outstanding issues, including the budget and welfare reform.

Speaking to impartialreporter.com at Stormont, the Fermanagh-south Tyrone MLA said: "I can understand the prime minister's frustration. He came over here thinking the parties were closer to a deal than he realised. But he is not going to sit about for days on end negotiating issues that he believes other people should sort out."

It is clear that the prime minister wants issues such as the past, parades and flags to be settled by the parties in Northern Ireland. The politicians, however, may have other ideas.

As he prepared to leave Stormont, Mr. Cameron told the media that a deal was on the table - including potential spending powers of £1 billion pounds - but only if an agreement on those issues could be reached.

"A deal is not going to be possible today. What I hope will happen now is that the politicians in Northern Ireland will work together to agree these vital issues about parades, flags, the past, the budget," he said.

Only when a resolution has been found will Mr. Cameron agree to his proposed "financial firepower". However, getting the parties to agree on the budget and welfare reform will take even more time, according to Mr. Elliott.

"This is what it all boils down to: the finances, the money. That's where we are at the moment and that's what we need to get sorted out. If there is no agreement on that then there is no point in moving on to the other issues," he told impartialreporter.com.

Earlier, Mr. Elliott joined UUP leader Mike Nesbitt as he told the assembled media outside Stormont of his own frustration: "We are not in a good place".

And during the DUP's press conference, First Minister Peter Robinson responded to Mr Cameron's proposal, saying: "To bribe us with our own money comes a bit short."

Deputy First Minister Martin McGuinness told the media that despite what the prime minister had said "there was no credible financial package to allow us to tackle austerity."

Sinn Fein President Gerry Adams described the talks as "the most amateurish ham-fisted episode I have ever been involved in."

Alliance Party leader David Ford said reaching no agreement today following weeks of talks had left Stormont "in a difficult position."

It is understood that the inter-party talks at Stormont House will continue for the rest of today as the parties attempt to draw up new proposals which they will likely discuss with Mr. Cameron next week.