Mr Wilson says anyone who would contemplate giving further fiscal powers to the Northern Ireland Assembly "and to people who bury their heads in the economic sands" would be "out of their skull".

"Why would you hand fiscal powers to people who clearly can't even handle the powers they have already?" he adds.

Mr Wilson, a former finance minister, warns the lack of progress on welfare could undermine the credibility of the Assembly.

On the penalties for non-implementation of welfare reform and the cost of running a parallel system, he says "the one thing we can't allow is for this festering sore to remain here".

Mr Wilson says the fact that Sinn Fein MPs have not taken their seats in Westminster, "where welfare reform has its genesis" shows that "abstentionism is more important than protecting the vulnerable".

He says anyone who thinks the Conservatives will make further concessions on welfare for Northern Ireland, now they are governing alone, is "living in a fantasy world".

Sammy Wilson of the DUP begins the second part of today's debate on the final stage of the Welfare Reform Bill.

On the lack of consensus over the changes to welfare, he says:

"We are moving into uncharted waters. We don't know constitutionally where this could lead us. We don't know politically where this could lead us."

"The one thing we do know is financially, the consequences of this have been spelt out and spelt out very clearly by the finance minister," he says.

During the lunchtime break the Speaker, Mitchel McLaughlin, agreed to resume the Welfare Reform Bill debate at 2pm.

First minister's questions will be taken at another date.

The Speaker Mitchel McLaughlin suspends the Assembly until 2pm.

He says he will confer with party representatives to decide whether to continue the debate at 2pm during the time set aside for first minister's questions.

These have been deferred owing to Peter Robinson's illness.

Agriculture Minister Michelle O'Neill is due to answer questions on issues including the rural development programme, micro loans and the Welfare of Animals Act at 2.45pm

Sinn Fein's Alex Maskey, says his party will "hold dearly" to its fundamental policies, which he says received a mandate from "a wide number of people" at the general election.

Describing Sinn Fein as "an anti-austerity party", he says decisions are made "on a national and collective basis".

The DUP's Gregory Campbell says representatives from other UK jurisdictions have told him they wish they had Northern Ireland's social security system.

The East Londonderry MLA says Sinn Fein are "not using Karl Marx economics, but Groucho Marx economics".

Mr Campbell says there is likely to be a Conservative government for the next five years and holding up a pound coin, he refers to the block grant and says, "People ask why we can't go it alone. It's 50bn of those".

Mr Ford says that "if we don't now pass this bill, all we agreed in the Stormont House Agreement potentially falls".

"Do members of this Assembly really want to see that?" he asks.

Sinn Fein are leaving those dependent on social security benefits in a worse position, Mr Ford says.

Alliance's David Ford says while his party opposes many parts of the bill, they will nonetheless support its passage.

"The reality is, welfare powers are not devolved in any meaningful sense", he says.

"People in Northern Ireland pay UK taxes and get UK social security benefits", Mr Ford adds.

The justice minister, speaking from the back benches, says:

"We cannot do all we would wish to do. We have to live within the administrative possibilities, we have to live within the financial realities".

Mr Beggs warns that there could be thousands of compulsory redundancies across the public sector if the Assembly does not pass a budget.

He says he heard of the petitions of concern both in March and today "with bemusement".

The East Antrim MLA says Sinn Fein's "southern dog wagged the northern tail".

Ulster Unionist Roy Beggs says the benefits system should see "the sick, the disabled, the working poor and families all protected".

He says people "should be better off in work than on benefits".

Mr Beggs says this is "the most difficult and controversial bill" that the Assembly has debated in recent times, and his party does not favour of all its contents.

"There is no money tree," he says.

Mrs Kelly says it is not too late for the parties to get around a table "and thrash out all of the concerns we have" with regard to welfare reform.

She says her party is "fed up with the side deals" between Sinn Fein and the DUP.

The SDLP's Dolores Kelly says the "attack on the most vulnerable" is "morally unjustifiable".

She says MLAs have "a gun to our heads", and that the British government should remove the threat of fines

Mrs Kelly also wishes Mr Robinson a full and speedy recovery.

The deputy first minister says Sinn Fein will not support a bill which does not protect "children with disabilities, adults with severe disabilities, families with children, and the long-term sick".

He says there is "still time for the parties and the British government to change tack".

Mr McGuinness says he has twice asked the Secretary of State, Theresa Villiers, what the effect on Northern Ireland will be of £25bn in cuts he says will be announced in July.

"She refused point-blank to tell me," he says.

"This is bigger than the issue of welfare," Mr McGuinness.

He says "eye-watering " cuts to be brought in by the Westminster government will result in the loss of thousands of jobs in vital frontline services".

The deputy first minister says the bill does not represent the measures agreed at Stormont Castle.

Paula Bradley of the DUP says some very difficult and unpopular decisions have had to be made.

She says some of those in the chamber are "completely arrogant" to believe that the economic situation does not apply to Northern Ireland.

The minister says there is a limit to what can be done.

"We need to strike a balance between welfare and other services," he says.

"I believe our approach is fair, legal, affordable and deliverable," Mr Storey says.