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In the general election of 2002 the Moderate Party gained 15.3 percent of the votes—its lowest share of the vote in a general election since 1973. Following the loss, Lundgren was forced to resign his position as leader of the Moderate Party. After the 2002 election Reinfeldt was elected as leader of the Moderate Party parliamentary group, spokesman for economic policy and vice chairman of the parliament's finance committee. On 25 October 2003 he was unanimously elected as the new leader of the Moderate Party.