Hesitate to be the standard bearer? (5)

I believe the answer is:

waver

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'hesitate' is the definition.
(synonyms)

I don't understand the rest of the clue.

(Other definitions for waver that I've seen before include "Be irresolute; flicker" , "Show hesitation, begin to give way" , "hold back" , "someone gesticulating wildly" , "Hesitate" .)

I've seen this clue in the Evening Standard.

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