Wow!

This just in, from Sky News:

TREASURY FINDS LABOR'S TAX POLICY HAS NO BLACK HOLE
Labor's planned tax cuts for low and middle income earners will be nearly half a billion dollars cheaper than first thought. An analysis by the Treasury Department has found that the ALP has overestimated the cost of its package. Labor's plan involves $8 a week tax cuts for people earning under $52,000 and lifting the two top tax thresholds. The finding has dealt a blow to Treasurer Peter Costello, who's said he'd stake his economic credibility on his claim that Labor's tax package had a $700 million black hole.

OH MY GOD. What is Costello's reply going to be?! What will the papers report tomorrow?! I can't believe how (pathetically) excited I am!

UPDATE: SMH has just put their story on it up.