From the BBC:

Australian Prime Minister John Howard has announced that he will contest elections for a fifth term in office.
[…]
Mr Howard’s announcement comes despite pressure from his deputy for over a decade, Treasurer Peter Costello, to step aside.
[…]
Mr Costello told reporters Mr Howard had 12 years previously said he would hand over the reins of the Liberal Party to Mr Costello during his second term.

But Mr Howard said no such agreement had been made.

Couldn’t they come up with something more original? This story’s been done to death…