A Labour leader with bad record (5)
I believe the answer is:
album
'record' is the definition.
(I've seen this before)
'a labour leader with bad' is the wordplay.
'leader' says to take the initial letters.
'with' is a charade indicator (letters next to each other).
'bad' becomes 'bum'.
The initial letter of 'labour' is 'l'.
'a'+'l'+'bum'='ALBUM'
(Other definitions for album that I've seen before include "Book of collections" , "Book for keeping photos, stamps, etc" , "Pictures" , "Compilation of recordings" , "place for photos" .)