1967 was a fateful year for Androsch: he was certified as a public accountant and tax advisor, allowing him to participate in the financial consulting enterprise which his parents had significantly expanded; and he became a member of parliament for the Socialist party where he earned himself a reputation as a shooting star. When Bruno Kreisky turned the tables on Austria's political scenery with the 1970 national election he made the 32-year-old Androsch Finance Minister in his first minority cabinet on 21 April 1970. Androsch continued in this function when the Socialist single-party government consolidated its dominance through the absolute majorities won in the elections of 1971 and 1975. Although he had not been Kreisky's first choice for this position (Schachner-Blazizek and Felix Slavik had declined) the two men developed a working relationship that was, initially, very good. Androsch became a strong advocate of Keynesian economics, in a modification that became known as “Austro-Keynesianism.”
