History of Australia since 1945 Fraser, Hawke re-established a new, universal system of health insurance called Medicare. Hawke and Keating abandoned traditional Labor support for tariffs to protect industry and jobs. They moved to deregulate Australia's financial system and ‘floated’ the Australian dollar. An agreement was reached with trade unions to moderate wage demands and accept more flexible working condition arrangements by accepting tax cuts in return. Ultimately, many of the reforms, continued by successive governments, appear to have been successful in pushing the economy along. The Australian Bicentenary was celebrated in 1988 along with the opening of a new Parliament House in Canberra. The
1988 Gilgit massacre of Parachinar, where an estimated over 200 died. The first major anti-Shia riots in Gilgit broke out in May 1988 over the sighting of the moon, which ushers the end of the holy month of Ramadan. When Shias in Gilgit celebrated Eid al-Fitr, a group of extremist Sunnis, still fasting as their religious leaders had not yet declared the sighting of the moon, attacked them. This resulted in violent clashes between Sunnis and Shias. Following a brief calm of about four days, the Pakistani military regime reportedly used a number of militants along with local Sunnis to ‘teach a lesson’