A cheap cut? (4)

I believe the answer is:

snip

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'cut' is the definition.
(I know that cut is the is a more specific form of the action of snip.)

I cannot understand how the rest of the clue works.

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(Other definitions for snip that I've seen before include "Cut quickly with a scissors" , "bargain buy" , "Quick cut - something easily done" , "Easy to do - use pins" , "Cut with shears" .)

I've seen this clue in the Evening Standard.

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