Heath was replaced by Harold Wilson, who returned on 4 March 1974 to form a minority government. Wilson was confirmed in office, with a three-seat majority, in a second election in October of the same year. It was a manifesto pledge in the general election of February 1974 for a Labour government to re-negotiate better terms for Britain in the EEC, and then hold a referendum on whether Britain should stay in the EEC on the new terms. After the House of Commons voted in favour of retaining the Common Market on the renegotiated terms, a referendum was held on 5 June 1975. A majority were in favour of retaining the Common Market. But Wilson was not able to end the economic crisis. Unemployment remained well in excess of 1,000,000, inflation peaked at 24% in 1975, and the national debt was increasing. The rise of punk rock bands such as the Sex Pistols and The Clash were a reflection of the discontent felt by British youth during the difficulties of the late 1970s.