Finance Minister Paul Martin announced Wednesday that the federal government intends to table a budget in the House of Commons before the end of the current calendar year.

Martin stated that the budget will provide a detailed update of Canada’s fiscal situation in the current economic downturn.

It will also evaluate how the events of September 11 have affected the country’s economy and set out the financial underpinnings of Canada’s steps to fight the war on terrorism over the long term.

“Let me assure you we will give a full accounting to Canadians. They deserve nothing less. Indeed, a fall budget is something we have been considering for some time,” Martin said. “We will act when we have all the relevant information we need to table our plan, and I am now confident that I will be in a position to deliver a budget this year.”

He added that several critical pieces of information will become available in the coming weeks, which will play an important role in determining the exact date for the tabling of the budget. “Economic results for the third quarter will be available at the end of November,” he said. “As well, officials in a number of departments are determining the costs of the new security measures that will be implemented over the next two years.”