 Complete the following phrase:  Osborne was elected as MP for Tatton in 2001, becoming the youngest Conservative member of the House of Commons. He was appointed Shadow Chief Secretary to the Treasury by Conservative leader Michael Howard in 2004. The following year he ran David Camerons successful party leadership campaign, and was subsequently appointed Shadow Chancellor of the Exchequer. After the 2010 general election, Osborne was appointed Chancellor of the Exchequer in the CameronClegg coalition. He succeeded Alistair Darling, inheriting a large deficit in government fices due to the effects of the late-2000s ficial crisis. As Chancellor, Osborne pursued austerity policies aimed at reducing the budget deficit and launched the Northern Powerhouse initiative. After the Conservatives won an overall majority in the 2015 general election, Cameron reappointed him Chancellor in his second government and gave him the additional title of First Secretary of State. He was widely viewed as a potential successor to David Cameron as Leader of the Conservative Party; one Conservative MP suggested that the closeness of his relationship with Cameron meant that the two effectively shared power during the duration of the Cameron governments. Following the 