Speculation is mounting in Labor that the veteran MP and former treasurer Wayne Swan is preparing to retire from politics at the next election, although he would only say he “has not made a decision as yet”.

With Labor moving into campaign mode ahead of the next federal election, which can be held anytime from August, attention has turned to what “Labor 2018” should look like.

Several senior sources have told Guardian Australia they believe Swan is actively looking to step aside come the next election, with fellow AWU right member and former campaign manager Anika Wells considered the most likely candidate to step in.

“It’s time and I think Swanny knows that,” one Labor source said. “He has had a lot to contribute, and he is still active, but he is also one of the last relics of the Rudd-Gillard years and we are looking to move past that. I think he feels that too.”

Others, while acknowledging Swan’s service and role in the party, were more straight forward.

“He should have left at the last election and I think he realises that now,” another Labor source said. “It’s time for new blood. We know it, he knows it. It’s just taken a little longer for him to let go.”

Speaking to Guardian Australia, Swan said he would not make his decision about whether to re-contest until nominations were officially called.

“I haven’t made any decision,” he said. “I still see myself as having significant input to make at both the local and national level. I am certainly still very active and passionate about what I do, including looking at tackling inequality, looking at how we for the long term pursue not only economic growth but a far stronger society.

“I am very involved in the economic debate about how we create prosperity and opportunity.”

It is those contributions that some of his colleagues believe have delayed the decision.

“Swanny is still very involved in how we deal with inequality and those sorts of things and I think he is just aware that if he announces, or confirms he is looking at walking away, he’ll suffer from ‘lame duck’ syndrome,” said one colleague, who was one of three colleagues to mention “lame duck” concerns. “Why would you take advice from someone who was pulling the plug?”

Swan, who has held the Queensland seat of Lilley since 1998, bucking predictions he would lose the seat in the 2013 election that saw Tony Abbott sweep to victory, has been dogged with retirement rumours for years.



His decision to re-contest the last election was met with disgruntlement from some within the party, who expected him to step aside, as Labor pushes to increase female representation and shake off the “shackles of the past”.

“Swanny has done a lot but it doesn’t surprise me he is now looking at walking away,” another colleague said. “If we’re going to be successful at the next election, we need to get serious about moving completely on from what happened the last time we were in government.

“He knows it. He’s certainly not the only one who should be thinking it.”