Finance Minister Jim Flaherty will deliver his third federal budget on Feb. 26, he announced Monday.

"In this budget, we will be doing what households and businesses do when things are uncertain: We will be acting in a responsible manner," Flaherty said.

Given the minority status of the Conservative government, this budget could be its last. 

A budget is always a confidence motion, meaning a defeat would lead to an election.

The Opposition Liberals have not said whether they will support the budget. But if the NDP and the Bloc Québécois vote against it, Liberal support would be needed for it to pass.

Liberal Leader Stéphane Dion said Sunday that his party would be prepared to vote it down if it doesn't meet with its approval.

"If the budget is wrong for the country, we will not support this budget, you may be sure," Dion told CTV's Question Period. "We will see the budget and we will make our decision at that time."

With the latest announcement, the Conservatives have laid down three election tripwires, daring opposition MPs to defeat confidence measures and bring down the government.

The three are:

  • A Commons vote, possibly this week, on a motion demanding that the Liberal-dominated Senate quickly approve a major crime bill.
  • The Feb. 26 budget.
  • A vote in late March on a plan to extend Canada's combat mission in Afghanistan to 2011.

A spokeswoman for Stephen Harper's office said Monday that even if the House adopted the crime bill motion, the government could still seek to dissolve Parliament if the Liberal-dominated Senate failed to pass the bill by March 1.

"It is a confidence motion so that is an option," said Carolyn Stewart Olsen.

Flaherty has not been specific about what measures are likely to come in the budget. But both he and Prime Minister Stephen Harper have downplayed the chance of additional tax breaks or big spending plans.

The Tories announced a $60-billion program of business and personal tax cuts in their economic statement last October.

Flaherty has been holding pre-budget consultations across the country, soliciting ideas from the public through a website. The consultation period ends Monday.