Conservative party's flipping smart! (6)
I believe the answer is:
clever
'smart' is the definition.
('clever' can be similar in meaning to 'smart')
'conservative party's flipping' is the wordplay.
'conservative' becomes 'c' (abbreviation commonly used in UK politics).
'party' becomes 'l'.
'flipping' becomes 'ever' (I can't explain this - if you can you should give a lot more credence to this answer).
'c'+'l'+'ever'='CLEVER'
Can you help me to learn more?
(Other definitions for clever that I've seen before include "Quick at learning, bright" , "Smart and ingenious" , "Quick to learn and understand" , "Bright; smart" , "Quick-witted, smart" .)