Peters first served in the Cabinet as Minister of Māori Affairs when Jim Bolger led the National Party to victory in 1990. He was dismissed from this post in 1991 after criticising his own Government's economic, fiscal and foreign ownership policies. He resigned from the National Party to form the populist party New Zealand First in 1993. As leader of New Zealand First, he held the balance of power after the 1996 election and formed a coalition with the National Party, securing the positions of Deputy Prime Minister and Treasurer—the latter position created for Peters. However, the coalition dissolved in 1998 following the replacement of Bolger by Jenny Shipley as Prime Minister. In 1999, New Zealand First returned to opposition before entering government with Labour Party Prime Minister Helen Clark, in which Peters served as Minister of Foreign Affairs from 2005 to 2008.