"While we support the principle of Palestinian statehood, we know that only a negotiated settlement can create a viable Palestinian state," Foreign Secretary William Hague was quoted as saying by The Daily Telegraph.
"No resolution at the UN can substitute for the political will necessary if both sides are to come to the negotiating table", added the Foreign Secretary.
The Security Council will meet Wednesday to start the process of formally considering the Palestinian request for membership in the world body, the council's president has said.
Lebanese Ambassador Nawaf Salam, who holds this month's rotating presidency of the council, made a brief statement before reporters on Monday, saying that the council decided to take up a decision on referring the issue for further consideration two days hence.
The Security Council begins consultations Wednesday on Palestine's application for full membership of the world body, although a vote on the historic bid is not expected for weeks.
The United States, a staunch Israeli regime's ally and one of the five veto-wielding permanent members of the Security Council has also threatened to veto the Palestinians' legitimate application to have a viable, sovereign state.
For the vote to pass, the Palestinians need the support of nine out of the 15 members of the Security Council.
Six members including Russia, China, two permanent members along with four non-permanent members India, Brazil, South Africa, and Lebanon have already thrown their weight behind the bid.
Colombia has said it will abstain, while other members including Germany, Nigeria, Bosnia, Portugal and Gabon have not revealed their decision. Britain and France, two other permanent members, are also expected to give 'nigh' to the Palestinians' statehood bid.
Britain, which has been forced to choose yet again between Europe and the US, has also rejected a French compromise plan that would have seen Palestine granted the same non-member status as the Vatican.
The UK government, as the Mandate power in Palestine for 25 years, had an obligation to create and foster self-governing institutions in the land it contributed a lot to its occupation.
Now, more than half a century later, supporting the Palestinians' aspiration to statehood at the UN was the very least Britain could do, analysts believe.
Former Liberal Democrat leader Sir Menzies Campbell said there would be a "profound sense of disappointment" unless there was a positive approach to Palestinian statehood.
Jack Straw, former foreign secretary, has thrown his weight behind the move, writing to all British MPs demanding they support the argument for Palestinian statehood now.
A new opinion poll has also showed that a majority of people in Britain, France and Germany want their leaders to vote in favor of a UN resolution to support recognition of a Palestinian state.
The survey, which was carried out online by YouGov in Britain and Germany, and Ifop in France, showed that in Germany 84 percent supported Palestinian statehood and 76 percent believed Germany should act now to recognize; in the UK the figures were 71 percent and 59 percent; and in France the figures were 82 percent and 69 percent respectively.
Palestinian Authority chief, Mahmud Abbas, formally asked the United Nations on Friday to admit Palestine as a full member state, handing over a formal application to UN chief Ban Ki-moon.
The Palestinians say that Israeli regime has already annexed al-Quds and has been stealing their lands for the past 20 years, in addition to the lands it occupied with the help of its Western allies.
Since it occupied the West Bank in 1967, the Israeli regime has built more than 130 settlements across the territory, which are home to more than 300,000 residents. Another 200,000 people live in settlement neighborhoods in the occupied East al-Quds.
Figures show the majority of West Bank settlers live in eight large settlements which Israel wants to annex in any final peace agreement with the Palestinians.
The illegitimate regime considers both sectors of occupied al-Quds to be its "eternal, indivisible" capital and does not view construction in the east to be settlement activity.
This is while that the Palestinians believe East al-Quds should be the capital of their future state.
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