The Bajuks were acquainted with the famous poet Edvard Kocbek who lived in the same building.

After the military coup in 1976 he was fired and soon left for Washington, D.C., working for the World Bank for a year.

He held a range of positions at the IDB, from economist in charge of analysing social projects to adviser to the executive vice-president.

In July 2000, the newly merged SLS+SKD – Slovenian People's Party – contrary to previously agreed policy and government stance – voted in favour of an electoral system based on proportional representation.

In August 2000, he and his supporters founded a new political party called New Slovenia (Nova Slovenija, N.Si).

He did not stay an MP for long, as he soon took on the role of the Minister of Finance in the newly elected government, led by Janez Janša.

In the parliamentary elections of 2008, the "New Slovenia" party suffered a severe defeat and did not secure the entry in the Slovenian National Assembly.