Music Hall MMF 2 brass bushing/spindle worn?

It seems like either the brass bushing on the plinth or the bottom part of the spindle/flywheel thing on my Music hall MMF 2 are worn. If you grab the top part of the spindle, there's a considerable amount of play when rocked back and forth, which often causes the platter to spin out of balance.

Is there a way to tell if it is one or the other, and can these parts be replaced?