Democrat dismissing protest by queen in depression (6)
I believe the answer is:
crater
'depression' is the definition.
(crater is a kind of depression)
'democrat dismissing protest by queen' is the wordplay.
'dismissing' indicates named letters should be taken away.
'protest' becomes 'demo' (I've seen this before).
'by' means one lot of letters go next to another.
'queen' becomes 'er' (abbreviation for Elizabeth Regina).
'democrat' with 'demo' taken away is 'crat'.
'crat'+'er'='CRATER'
'in' is the link.
(Other definitions for crater that I've seen before include "Bowl-shaped depression" , "Volcanic depresssion" , "Bowl-shaped opening" , "Cavity formed by explosion" , "Volcano's mouth" .)