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The Labour Party lost the General Election in 1970, but Callaghan returned to office as Foreign Secretary in March 1974, taking responsibility for renegotiating the terms of Britain's membership of the European Economic Community ( EEC or " Common Market "), and supporting a " Yes " vote in the 1975 referendum for the UK to remain in the EEC.
When Harold Wilson resigned in 1976, Callaghan was elected the new Labour leader.

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