The laws were introduced into Parliament just after lunch and will be fully operational by 2010.

Neither unions nor employers were happy with the final package, a result the Government has hailed as proof it has pandered to no group in particular.

"What we've done here is produce a balanced piece of legislation having heard from all sides," Ms Gillard said this morning.

"I'm expecting that you'll hear from some employer representatives who say that it goes too far, you'll hear from some union representatives who say that it hasn't gone far enough.

"What I believe is this represents a balanced approach and gives fair rights to working people."

Whereas WorkChoices stripped the safety net underpinnming individual agreements back to five minimum conditions, Labor's Fair Work Bill legislated 10 minimum conditions, known as National Employment Standards, for all workers.

Those earning under $100,000 are guaranteed another 10 minimum award provisions, including penalty rates. These can be bargained away but the worker must not be left worse off.

Workers earning more than $100,000 do not receive the 10 award protections and they are not covered by the unfair dismissal protections which Labor has brought back, albeit in a more limited fashion.

Elements of WorkChoices have been retained. These include a minimum reduction of half a day's pay for industrial action outside a bargaining period. Right of entry provisions for unions have been reinstated but with strict conditions. Unions must give notice and meetings must be held outside working hours.

Secret ballots for strike action will also be retained.

All individual statutory agreements such as AWAs will be outlawed. However, a worker on an AWA who is happy with the terms and conditions can choose to stay on the AWA after it has expired.

One measure employers will not like is compulsory bargaining. Even if an employer refuses to bargain with workers, they will be forced to do so if a majority of the workers wants to bargain collectively.

The new arbitration body, Fair Work Australia, will test the level of support among workers.

The Opposition has indicated it will not put up a strong fight against the rules, given industrial relation was a key reason for its 2007 election defeat. The Coalition party room was scheduled to meet at 12.30pm to agree on a response.