Michael Cullen is not committed to standing again as deputy Labour leader when the position comes up for a vote in February next year.
The Finance Minister says he has not made a final decision - a clear indication he is considering giving up the post he has held since 1996.
But Dr Cullen says he has never felt more popular than he has in the past few weeks amid post-Budget controversy over tax cuts and claims by his opponents that he is turning into an electoral liability for Labour.
He says he has suffered from stress and tension all his life but insists he is under less stress now than in the past.
He made the comments in an interview with the Weekend Herald.
Dr Cullen has attracted recent attention over how he is handling his job after TVNZ screened a clip of him almost bursting with anger over media coverage of the Budget.
He claimed - in what he believed was a private conversation - that certain journalists who wanted tax cuts were incapable of unbiased reporting.
Asked if he might step down as deputy, Dr Cullen said he had "no final thoughts on that".
"All I can say is my colleagues seem very keen for me to stay on. Indeed, I don't think I have been quite as popular as I have been in the last few weeks with my own colleagues and with people on the streets."
Labour traditionally puts the leadership and deputy leadership to the vote in the first caucus in the year before an election, which would be February 2007.
Prime Minister Helen Clark has already said she plans to lead the party into the 2008 election. But Dr Cullen is clearly more equivocal, saying only it was his intention "at this point" to put his name forward.
He is thought to be considering stepping down as deputy as part of the rejuvenation the party will undergo in preparation for the election.
There is no suggestion he would be challenged for the deputy's position. He still commands huge respect within the party and will almost certainly be able to determine his own departure.
Steve Maharey and Phil Goff would be the most likely contenders.
Dr Cullen is thought likely to deliver the 2007 Budget but probably not the election-year Budget.
Trevor Mallard is the likely successor for that job, but Mr Goff has made it apparent he wants to be considered.
Dr Cullen said in the interview that he would know by next year's Budget whether there was "headroom" for personal tax cuts.
Cullen hints he may quit as deputy
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