Conservative Party leader David Cameron appointed as British prime minister . Cameron said he would form coalition with Liberal Democrats . But the Conservatives hold on to two senior offices of state , with George Osborne named Chancellor of the Exchequer , or finance minister , and William Hague appointed foreign secretary . Liberal Democrat leader Nick Clegg appointed deputy prime minister .
Conservative Party leader David Cameron appointed as British prime minister . Cameron said he would form coalition with Liberal Democrats . Liberal Democrat leader Nick Clegg appointed deputy prime minister .