Conservative suffers defeat with experience near disaster (5,5)
I believe the answer is:
close shave
'near disaster' is the definition.
(I've seen this in another clue)
'conservative suffers defeat with experience' is the wordplay.
'conservative' becomes 'C' (UK political abbreviation).
'suffers defeat' becomes 'loses' (I've seen this in another clue).
'with' says to put letters next to each other.
'experience' becomes 'have' (synonyms).
'c'+'loses'+'have'='CLOSE SHAVE'
(Other definitions for close shave that I've seen before include "Danger narrowly averted" , "Near thing" , "nasty moment" , "Narrow escape from disaster" , "Chases vole (anag.)" .)