Federal Treasurer Wayne Swan is backing Prime Minister Kevin Rudd to continue on his leadership of the Labour Party for the next election despite circulating speculations that the embattled leader is being pressured to give way for a new candidate.

Mr Rudd has been getting the flak from the controversial resources super profits tax proposed by his government as poll results showed his struggling numbers amidst confrontation with the mining sector opposing the 40 percent tax to be imposed on company profits.

However, senior party figures have thrown their support behind Mr Rudd with Deputy Prime Minister Julia Gillard flatly rejecting the idea that she is being groomed to challenge the prime minister's leadership.

Mr Swan reaffirmed his support for Mr Rudd as he stressed that Labour has no plans to set aside the prime minister's candidacy for the election set later this year.

He told ABC that Mr Rudd has so far "done a terrific job and he will lead us to the election as prime minister."

The party is expecting more pressures to come on Mr Rudd's way this week as the federal parliament is set to resume session on Tuesday and the raging debate on the super profits tax continue.