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The Socialist Left, in coalition with the Labour Party and the Centre Party, won Norway's September 2005 parliamentary elections.The resulting Red-Green coalition government marked the first time that the Socialist Left Party was included in the cabinet.Taking over as leader of the Socialist Left Party in 1997, she established an unprecedented level of consensus within the party.

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She is presently a member of the Election Committee and the Committee on Foreign Affairs, and Chairman of the Socialist Left Party's parliamentary group, but is on leave from these positions while sitting in government.

Halvorsen was the first Norwegian party leader to launch a blog.

She served as a vice member to the Parliament from 1985, and was elected member of Parliament in 1989, representing the county of Oslo, a seat she has held ever since.

She has been a member of the parliamentary standing Committee on Finance (1989–1997) and the Committee on Scrutiny and Constitutional Affairs (1997–2001).

Many who describe themselves as being on the left side of the party have suggested that Halvorsen step down.

She was succeeded by Audun Lysbakken on 11 March 2012.Kristin Halvorsen (born 2 September 1960) is a Norwegian socialist politician.She served as Minister of Finance from 17 October 2005 to 20 October 2009 and as Minister of Education from 20 October 2009 to 16 October 2013.Kristin Halvorsen took office as the 78th Minister of Finance in Norwegian history and the first woman ever to serve in that post.She resigned as leader of the Socialist Left Party in 2012. After taking university courses in pedagogy (1.5 years) and criminology (1 year) without receiving a degree, Halvorsen worked for a while as a legal secretary.Kristin Halvorsen's parents are Leif Georg Halvorsen, a civil engineer, and Marit Larsen, a teacher.