At the 1990 election the Coalition won a slim majority (50.10 percent) of the two-party vote and took seven seats from Labor. It also slashed Labor's majority from 24 seats to nine. However, it only garnered a 0.93 percent two-party swing. Combined with a three percent swing against the Nationals (who saw their leader, Charles Blunt, ousted in his own seat), this prevented the Coalition from picking up the additional seven seats the Coalition needed to make Peacock Prime Minister. This was all despite Hawke's government being in political trouble, with record high interest rates and a financial crisis in Victoria. Although Peacock was credited with helping the non-Labor forces regain much of what they had lost three years earlier, it was not enough to save his job, and he resigned after the election and promising not to make another attempt to return to the leadership. He became Shadow Attorney-General (1990–92) and Shadow Trade Minister (1992–93) under the new leader, Dr John Hewson, whom Peacock had supported in getting the job in 1990 over Peter Reith and to stop Howard returning.