Northern Ireland Secretary Dr John Reid said the re-imposition of direct rule would provide a "breathing space" to help revive the peace process.
Explaining his decision to suspend the power sharing executive to MPs in Westminster, Dr Reid called for co-operation from all sides in making new progress.
Dr Reid said the suspension was the result of an impasse in just one part of the Belfast Agreement and said the British government remained "fully committed" to its full implementation.
In an emergency Commons statement, he outlined the roles to be taken on by an expanded Westminster ministerial team and pledged they would not duck difficult issues.
Dr Reid, who is expected to start talks with all sides at Stormont next week, said: "I want to stress that this is an impasse, hopefully short lived, in only one aspect of the Agreement.
"It isn't the whole Agreement - it isn't the whole peace process. The peace process and the Agreement have increased prosperity, revitalised society, safeguarded rights and, above all, saved lives," he said.
Conceding the peace process faced some "difficult and challenging weeks", he said it was vital to move from recrimination to rebuilding.
Dr Reid said education issues - formerly the responsibility of Sinn Féin's Mr Martin McGuinness - would be taken on by Northern Ireland Minister Ms Jane Kennedy.
Junior minister Mr Des Browne would tackle social issues with two new ministers, Mr Ian Pearson and Ms Angela Smith, looking at economic affairs and environmental issues respectively, he told MPs.
PA