After the election of 1971 Van der Stee was appointed as State Secretary for Finance in the Cabinet Biesheuvel I, taking office on 14 July 1971.

Van der Stee was elected as a Member of the House of Representatives after the election of 1972, taking office on 12 December 1972 but he was still serving in the cabinet and because of dualism customs in the constitutional convention of Dutch politics he couldn't serve a dual mandate he subsequently resigned as State Secretary for Finance on 12 March 1973.

Van der Stee was appointed as Minister of Agriculture and Fisheries following the resignation of Tiemen Brouwer, taking office on 1 November 1973.

The Cabinet Den Uyl fell on 22 March 1977 after four years of tensions in the coalition and continued to serve in a demissionary capacity.

Van der Stee was appointed as Minister of Finance following the resignation of Frans Andriessen, taking office on 5 March 1980.