Dream of Conservative party (5)
I believe the answer is:
crave
'dream' is the definition.
(thesaurus)
'conservative party' is the wordplay.
'conservative' becomes 'C' (UK political abbreviation).
'party' becomes 'rave' (type of dance party).
'c'+'rave'='CRAVE'
'of' is the link.
(Other definitions for crave that I've seen before include "Yearn for (something)" , "Feel a powerful desire for (something)" , "Hunger for" , "Beg; long for" , "Beseech" .)