NDP Leader Jack Layton is scheduled to make an announcement about his "personal status and his immediate future as NDP leader" here in Toronto at 2:00pm.

Is Layton stepping down? Is he doing the almost unimaginable and shifting his focus and run for mayor of Toronto? The Twitterverse is buzzing, and speculation abounds (including talk of him experiencing back problems).

Canwest says that Layton's press secretary Karl Belanger has indicated that he will neither step down as NDP leader, nor make a run for Toronto mayor.

So what is he going to announce?

I guess we'll have to wait and see. In the mean time, feel free to make serious/outlandish/reasonable/funny predictions below!

Jack Layton currently is a Member of Parliament and holds a seat in the House of Commons representing the federal electoral district of Toronto-Danforth. He's been the leader of the federal NDP since 2003.

UPDATE (12:53pm):
The Star suggests that it's health related, and that Layton is "seriously ill" (it's more serious than a bad back).

UPDATE (1:55pm):
CP24 is reporting that Layton will take a break from his role as leader of the federal NDP as he seeks treatment for prostate cancer.

UPDATE (2:10pm):
Layton has announced that he has been diagnosed with and is being treated for prostate cancer. He will continue in his roles as MP of Toronto-Danforth and as NDP leader. The full text of his announcement is available on the NDP website.

Photo: Jerrold Litwinenko.