Prime Minister Stephen Harper announced Sunday morning, in front of Rideau Hall, that an election will be held on Oct. 19.

Prior to the announcement, Harper submitted a writ of general election to Governor General David Johnston, touching off an 11-week election campaign that is expected to carry a hefty price tag for the Canadian taxpayers.

New election campaign rules allow each candidate to spend up to an additional $675,000 after the first 37 days of the election campaign. The Conservatives have squirreled away a sizable election war chest for this campaign, and they're expected to use the extra spending period to put pressure on their more money-conscious rivals.

The official election period will be 78 days long, the longest in more than a century.

The latest poll from Nanos Research shows the three major parties in a dead heat heading into the election. The poll asked respondents which two parties they would vote for in their area.

The results show the Conservatives holding a miniscule lead over the NDP and Liberals, with 2.2 percentage points separating the first- and third-ranked parties.