Deputy Prime Minister Wayne Swan looks set to lose his Brisbane seat of Lilley, with internal polling suggesting Labor will struggle to retain any Queensland seats at the September 14 federal election.

In a result even worse than the 1996 ''baseball bats'' election, when Labor was reduced to two of the then 26 seats in Queensland, Labor may retain only one MP - former prime minister Kevin Rudd.

Storm coming: Treasurer Wayne Swan and Prime Minister Julia Gillard in Parliament on Monday. Credit:Andrew Meares

The Queensland polling, taken in recent weeks in Mr Swan's seat of Lilley, is believed to show Mr Swan's primary vote has collapsed to just 28 per cent, compared with 41 per cent at the last election.

Mr Swan has held the seat since 1998, although at the last election his margin narrowed from 8 per cent to 3.2 per cent, with a 10 per cent fall in his primary vote.