Axes regularly pronounced in surplus (6)
I believe the answer is:
excess
'surplus' is the definition.
(synonyms)
'axes regularly pronounced' is the wordplay.
'regularly' means one should take alternating letters (regularly take one letter, leave next etc.).
'pronounced' shows a homophone (sound like).
The alternating letters of 'axes' are 'xs'.
'xs' sounds like 'EXCESS'.
'in' acts as a link.
(Other definitions for excess that I've seen before include "more than enough" , "What Orsino wanted of music" , "debauchery" , "Over and above what's needed" , "A quantity larger than is needed or immoderation" .)