1971, degree in Political Economics, University of Copenhagen. 1966-81, with the Economic Council of the Labour Movement; 1975, Head of Department. 1981, elected member of the Folketing: appointed Minister for Inland Revenue; 1984-86, Chairman, Tax and Fees Committee; 1987-88, Chairman, Committee on Commerce, Industry and Shipping; 1988-90, Chairman, The Economic Policy Committee. 1991-93, Spokesman, Social Democratic Party. Since 1993, Minister for Finance. Author and editor of numerous books and articles in magazines, periodicals and newspapers, including: Sans og Samling (A Social-democratic Chronicle, editor, 1994).