Olivia Chow is closer to launching a federal political comeback, NDP sources say, with the formation of a campaign team and expected announcement next week.

But, in a preview of what would be a bare-knuckle brawl between Chow and Liberal MP Adam Vaughan, he reacted to the news by calling Chow a serial quitter who wasted $1 million of taxpayers’ cash by triggering a federal byelection.

NDP sources say Chow, who last year ended an eight-year run as Trinity-Spadina MP to mount a Toronto mayoral campaign, appears ready to challenge Vaughan in the new riding of Spadina-Fort York.

A nascent campaign team has formed, the sources said, and members have talked about trumpeting her candidacy with a splash next week, possibly Tuesday or Wednesday, with NDP Leader Thomas Mulcair at her side.

Mulcair has said he is optimistic party discussions with Chow over a possible candidacy will bear fruit.

“It’s an exciting election campaign and nothing would make me happier than having someone with Olivia’s extraordinary depth and experience decide to come back on board,” Mulcair told reporters Tuesday.

Unless Chow gets cold feet, one NDP source said, she is expected to declare she wants to be sent back to Ottawa, less than 17 months after leaving, because Canada is so close to finally getting a national child-care system.

With opinion polls suggesting New Democrats could form government, she hopes to be there to help implement a plan she has advocated for decades, the source said.

Last fall, Mulcair announced his party would, if elected, create one million $15-a-day child-care spaces across Canada within eight years. The plan would cost $5 billion a year when fully implemented.

On Monday, Chow tweeted in response to a news story on daycare costs, “Child care for toddlers cost $100 a day. How can we make it more affordable? My presentation #Votechildcare2015” with a link to her 40-slide pitch for change.

Chow — who in March accepted a three-year post as a distinguished visiting professor at Ryerson University — did not return the Star’s calls and emails Friday.

Vaughan who quit city council and defeated Chow’s former campaign manager to succeed her as Trinity-Spadina MP, was scathing in an interview.

“She has had a string of unfinished jobs — she didn't finish city hall, she didn't finish Parliament and she has barely begun her stint at Ryerson,” said the high-profile Liberal housing and transportation critic.

“I promise you that, if I’m re-elected, I’ll stay in the job.”

If Chow wanted to introduce national child care, she should have kept working on Parliament Hill rather than join a mayoralty race that saw her finish behind winner John Tory (open John Tory's policard) and runner-up Doug Ford, Vaughan said.

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Elections Canada says the 2014 Trinity Spadina byelection cost taxpayers $1.026 million — $897,000 for operational costs and $129,000 in reimbursements to parties and candidates.

“If she’d wanted to save taxpayers money,” Vaughan said, “she could have stayed in Parliament.”

A Ryerson University spokeswoman said Friday that Chow had not notified the school of any change in her status and that students are still able to sign up for her lectures in community organizing and activism.

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