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Fife was elected to the [[Australian House of Representatives]] as the member for Farrer at the [[Electoral results for the Division of Farrer#1975|election on 13 December 1975]]. He was [[Minister for Competition Policy and Consumer Affairs (Australia)|Minister for Business and Consumer Affairs]] from July 1977 to December 1979, [[Minister for Education (Australia)|Minister for Education]] from December 1979 to May 1982 and [[Minister for Infrastructure, Transport, Regional Development and Local Government (Australia)|Minister for Aviation]] from May 1982 until the defeat of the [[Malcolm Fraser|Fraser]] government at the [[1983 Australian federal election|March 1983 election]]. Following an electoral distribution that moved Wagga Wagga into the [[Division of Hume]], he stood for and won that seat at the [[1984 Australian federal election|1984 election]]. His role in Opposition included a stint as Deputy Leader of the Opposition in the House of Representatives between May 1989 and April 1990, since Liberal deputy leader [[Fred Chaney]] was still a Senator. He retired from parliament prior to the [[1993 Australian federal election|1993 election]].<ref name=aph>{{cite web |title=Biography for Fife, the Hon. Wallace Clyde |publisher=[[Parliament of Australia]] |work=ParlInfo Web |url=https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22handbook%2Fallmps%2FCG4%22 |access-date=28 November 2019}}</ref>
Fife departure came as a result of seat redistribution that the National Party benefitted
from and Fife's was resentful to Liberal Leader John Hewson for not saving his career
Fife and others came to see Hewson's leadership as ineffective and Fife's departure was seen as
Hewson not having much influnce in the Liberal Party.https://trove.nla.gov.au/newspaper/article/133338929
==Honours==
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