he returned to parliament as the mp for east surrey in 1970, and from 1974 until he retired in 1992 for its largely successor seat after boundary changes, croydon south. sir geoffrey howe succeeded him in the east surrey seat when he was transferred from reigate. he was active in the 1970s in restoring conservative party finances to a sustainable levels. he identified with the right wing of the party and voted against british membership of the common market in 1971. he chaired the conservative backbench finance committee from 1979 until 1992, encouraging margaret thatcher to pursue financial stability and free enterprise and defending her policies on television and radio. he was knighted in 1980 and in 1990 was made a privy counsellor.