Treasurer Jim Chalmers has just handed down his first Budget, the first for a Labor Government in nearly 10 years. He's called it "solid and sensible" but warned that the world is heading towards tougher economic times. So in this week's Squiz Shortcut, we take a look at the state of the economy, what's in the Budget for you and the big challenges headed our way.

Squiz recommends:

ABC's overview of the winners and losers from the Budget

A summary of the Budget verdicts from SMH's and Age's experts