If the government`s response to Lord Browne`s report is a response that the Liberal Democrats cannot accept, arrangements are made for the Liberal Democrats to abstain from voting in every vote. The parties will lobby by establishing a legal register of lobbyists. We also agree to adopt a detailed agreement on limiting donations and reforming the financing of political parties in order to deprive politics of a large sum of money. Shortly after midnight on May 12, 2010, the Liberal Democrats came out of a meeting of their parliamentary party and the federal office to announce that the coalition agreement had been “approved by an overwhelming majority,” meaning David Cameron would lead a coalition government of Conservatives and Liberal Democrats. Later that day, the two parties jointly published the coalition agreement between the Conservatives and the Liberal Democrats, which set out the terms of the agreement.    Cameron appointed his first cabinet, made up of several senior conservative and Liberal Democrat officials.  The Conservatives appointed Chancellor of the Exchequer George Osborne, William Hague, Minister of Foreign Affairs and Oliver Letwin as Minister of State for the Cabinet. Among the Liberal Democrats` appointments were Danny Alexander to the Secretary of State for Scotland, Chris Huhne to the Secretary of State for Energy and Climate Change, David Laws as Chief Treasury Secretary and Vince Cable became Secretary of State for Business, Energy and Industrial Strategy and Chairman of the Exchange Board.  Labor became the opposition party and with Brown`s departure, Harriet Harman became its leader commissioner.  On May 18, 2010, the National Executive Committee of the Labour Party announced the details of the presidential election.  Ed Miliband was elected party chairman at his annual national conference on 25 September 2010.  In the banking system, the agreement announced several reforms to “prevent a recurrence of the ploughing financial crisis” and stimulate credit flows, including the introduction of a bank levy and control of unacceptable bank bonuses and regulatory reforms.