Opposition legislators threw papers in the air in glee after voting 156-145 in the House of Commons to defeat the minority government, which they also say has mismanaged the economy and is overly secretive.

The defeat paves the way for an election that will likely be fought on two main themes -- ethics and the economy. Likely dates are May 2 or May 9.

Canada's dollar was steady at C$0.9810 to the US dollar, or US$1.0194. Domestic stocks ignored the political news and ended slightly higher on a rally in resource stocks.

Prime Minister Stephen Harper admitted he was disappointed by the result, and said Canadians did not want what will be the fourth general election in less than seven years.

PM Harper said he would visit Governor General David Johnston, the representative of Queen Elizabeth, Canada's head of state, on March 26 to seek the formal dissolution of Parliament and set a date for the election.

The Conservatives, in power since 2006 with two successive minority governments, are well ahead of the main opposition Liberal Party in opinion polls. If the polls translate into votes, PM Harper would once again get the most number of seats.