Schiller joined the paramilitary Stormtroopers (
Sturmabteilung) of the
NSDAP in 1933 and the party itself in 1937. After
World War II he joined the
SPD in 1946. From 1965 to 1972, he was a member of the
Bundestag for the SPD, where he became assistant chairman of the SPD
faction. From 1948 to 1953, Schiller was
Senator for economy in
Hamburg and held the same office again from 1961 to 1965 in Berlin serving under mayor
Willy Brandt in his second term of office. From 1966 to 1969, he was
Federal Minister of Economic Affairs in the
grand coalition under
Bundeskanzler Kurt Georg Kiesinger, and worked together with
Franz Josef Strauß, then
Federal Minister of Finance, in the
Concerted activity. In this time, they were known as
Plisch und Plum after figures invented by
Wilhelm Busch. In the first cabinet of Willy Brandt, Schiller continued to serve in the previous position, and was also
Federal Minister of Finance from 1971 to 1972 after the resignation of
Alex Möller. On 7 July 1972 Schiller resigned in protest against Brandt's economic decisions. After stepping down, he soon left the SPD as well. In 1972, he participated together with
Ludwig Erhard in a CDU campaign, whereby both acted as defenders of market economy. In 1980 he returned to the SPD. He died in
Hamburg. As Finance Minister Schiller travelled to the Soviet Union in 1970 and met with
Alexei Kosygin, the
Premier of the Soviet Union, to discuss a trade agreement between their two respective countries. ==Honours==