In 1903 he became secretary of the Benalla branch of the Locomotive Engine Drivers' and Firemen's Association (LEDFA) and joined the Australian Labor Party.

[2] Drakeford was elected as the member for the Victorian Legislative Assembly seat of Essendon in 1927, but was defeated in 1932,[3] partly as a result of his opposition to the fiscally conservative Premiers' Plan drawn up in response to the Great Depression.

He concentrated on obtaining resources for the Royal Australian Air Force and attempting to sort out its leadership problems, rather than intervening in military strategy.

He was a member of War Cabinet from 1941 to 1946, and Minister for the Navy from August to November 1946, on the resignation of Norman Makin to become Ambassador to the United States.

Although Labor had intended it to be a monopoly, that was invalidated by the High Court under section 51(i) of the Australian Constitution, which guarantees free trade between the states.