[7] He stood as the Common Wealth Party candidate for Eddisbury in Cheshire in the by-election in April 1943 caused by the death of sitting National Liberal MP Richard John Russell.

The Common Wealth Party had been founded in July 1942 by the alliance of two left-wing groups, the 1941 Committee and the neo-Christian Forward March movement, standing on a radical "libertarian socialist" platform.

It opposed the electoral pact established by the Conservative, Labour, and Liberal Parties in the national wartime coalition government, who agreed that MPs filling casual parliamentary vacancies should be returned unopposed, and was one of several small parties who put up opposing candidates in wartime by-elections.

Loverseed unexpectedly won the by-election with 8,023 votes, a majority of 486,[10] and was discharged from the RAF at his own request to serve in Parliament.

He was the first Common Wealth Party candidate to win an election, and joined its only other MP, Sir Richard Acland.

Olaf Stapledon described Loverseed's victory as offering "a fresh inspiration in political life at a time when it was greatly needed.

[18] He took command of the Red Arrows in 1971 after the previous leader, Dennis Hazell, broke his leg after ejecting due to an engine failure in practice in November 1970.

Four Red Arrows' pilots were killed in an accident at RAF Kemble in January 1971, when two planes carrying two men each collided in mid-air.

He flew a Buffalo transport plane that crash-landed at the Farnborough Air Show in 1984, and a Piper Cherokee aircraft that suffered severe icing and crashed in Newfoundland in 1987.