Prime Minister Julia Gillard will stay on, at least until her term ends, this according to Australian Labor Party stalwarts who called the whirling speculations about the impending return of Kevin Rudd to the Lodge as mere rubbish coming from the Liberals.

Federal Treasurer Wayne Swan allowed a brief pause on his G20 meeting with global finance ministers in Washington to stress that Ms Gillard could rest on the thought that the fate that befell Rudd last would not be repeated on her case.

During an interview, Swan told Sky News on Monday that his boss "is an outstanding prime minister, an outstanding leader."

"She will lead us to the next election and beyond and we will win it because we have got the policies for securing the economic foundations for the future," added Swan, who also serves as Ms Gillard's Deputy Prime Minister.

If anything, all the rumours about the Prime Minister's exit and Rudd's return to the post he lost last year were all manufactured by the Liberal Party machineries, according to Swan, who also pointed out that "what has been said in the press has largely come from ... the Liberal Party."

He advised too that instead of focusing too much on politics, the Coalition under the leadership of Opposition Leader Tony Abbott needs to divert more of its energy in formulating economic policies that would allow Australia withstand the uncertain international financial environment.

"What we are on about here is making sure we are maximising all the opportunities for Australians in what is going to be a testing time for the global economy," Swan was reported by the Australian Associated Press (AAP) as saying.

Also, Trade Minister Craig Emerson called the reported preparations of Abbott to face-off with Rudd in the event of the latter's return as both premature and fictional as the Labor trade official insisted that "Labor will run a full term and this is what terrifies Mr Abbott."

Emerson belied a report published by The Daily Telegraph that Rudd will soon assume leadership of the ALP and will soon call for a snap poll that will pave the way for him to reclaim the Prime Minister post.

"Mr Abbott is a man without a conscience ... and he just wants to skate his way to the Lodge and that's not how it works," Emerson was quoted by ABC as saying on Monday.

Ms Gillard's continued stay as Prime Minister also enjoys the backing of Independent MP Andrew Wilkie, who told ABC on the same day that "the government's fortunes are best served by running three years with Julia Gillard and implementing initiatives on the table."

Another Labor minister, Tanya Plibersek issued assurance on Monday that there is no chance that Ms Gillard will be deposed as he told AAP "Julia Gillard has the full support of the caucus because she is an excellent leader."