Complex sentence: Economic liberalisation and deregulation of the Australian economy began in the early 1980s under the Hawke Labor Government, which commenced the process of economic reform by concluding a wages accord with the trade union movement.
Split into simpler sentences: Economic liberalisation and deregulation of the Australian economy only began under the Hawke Labor Government in the early 1980s. The government of Robert Hawke commenced the process of economic reform by concluding a wages accord with the trade union movement.