After the Conservative government of Arthur Balfour fell in December 1905 there was some speculation that Asquith and his allies Haldane and Grey would refuse to serve unless Campbell-Bannerman accepted a peerage, which would have left Asquith as the real leader in the House of Commons. Haldane had suggested involving the King at Balmoral to 'kick CB upstairs'.However, the plot (called "The Relugas Compact" after Grey's Scottish lodge where the men met) collapsed when Asquith agreed to serve as Chancellor of the Exchequer under Campbell-Bannerman.