and Monetary Affairs Committee, concerned with economic and financial policy including regulation of the financial sector. He was economic spokesman for the pan-European Liberal group in the European Parliament and was responsible for introducing "sunset clauses" – time limits on powers – into European Union law for the first time, for radically amending Commission proposals on financial services, and for opening up the European Central Bank to greater scrutiny. In addition to his European Parliament responsibilities, he was also active in the development of Liberal Democrat policy as chairman of four policy groups: broadcasting and the media, globalisation, the introduction of the euro, and the reform of public services. On public services, he argued that money was a necessary condition of improvement, but that the key was decentralisation and democratic control; local voters needed to be able to hold local decision-takers to account. Member of Parliament Huhne was first elected to represent Eastleigh at the general election on 5 May 2005, a constituency within the area for which he was previously the Member of the European Parliament. David Chidgey, the previous MP for the constituency, was also a Liberal Democrat who won his seat in what was historically a Conservative area in a by-election in 1994 following the death of Stephen Milligan. The result in 2005 was close, with Huhne winning with a majority of 568 over Conservative rival Conor Burns. In the 2010 general election Huhne retained his seat with an increased majority of 3,864 over Conservative Maria Hutchings. He was appointed as Steward and Bailiff of the Chiltern Hundreds on 5 February 2013, which vacated his seat and thus ended his tenure as Member of Parliament for Eastleigh. In accepting this office, he became the first official Liberal or Liberal Democrat MP to resign a parliamentary seat since 1941. Treasury spokesman Following his election to the House of Commons then Liberal Democrat leader Charles Kennedy made Huhne the party's shadow Chief Secretary to the Treasury. In this role Huhne led the party's debate on the 2005 Finance Bill, suggesting that amendments should be made to stop a pensions loophole which would have allowed a 40% discount on property and other investments. In the pre-budget report for 2006, the Chancellor conceded the change. 2006 leadership contest Huhne stood against Sir Menzies Campbell and Simon Hughes for the Liberal Democrat leadership following Charles Kennedy's resignation, formally launching his campaign on