It was called when the minority Progressive Conservative government led by Prime Minister Joe Clark was defeated in the Commons.
Clark and his government had been under attack for its perceived inexperience, for example in its handling of its 1979 election campaign commitment to move Canada's embassy in Israel from Tel Aviv to the hotly disputed territory of Jerusalem.
The five remaining Social Credit MPs abstained, upset that the revenues from the increased gas tax were not allocated to Quebec.
In addition, one Tory MP (Alvin Hamilton) was too ill to attend the vote while two others (Flora MacDonald and Lloyd Crouse) were abroad.
Meanwhile, the Liberals assembled all but one member of their caucus (Serge Joyal), even going as far as to take two MPs (Maurice Dionne and Claude Lajoie) out of the hospital for the vote.
The loss of the budget vote just seven months into his mandate and his subsequent defeat in the February 18 general election resulted in his ouster as leader by Brian Mulroney in 1983.
Having lost its presence in the House of Commons for the first time since the 1958 Canadian federal election, Social Credit rapidly declined into obscurity.