European politician in tax storm (7)
I believe the answer is:
tempest
'storm' is the definition.
(tempest is a kind of storm)
'european politician in tax' is the wordplay.
'european' becomes 'E' (abbreviation e.g. EU).
'politician' becomes 'mp' (Member of Parliament).
'in' is an insertion indicator.
'tax' becomes 'test' (I've seen this before).
'e'+'mp'='emp'
'emp' going into 'test' is 'TEMPEST'.
(Other definitions for tempest that I've seen before include "terrible blow" , "Violent Shakespearian storm" , "tosser!" , "Cyclone" , "Shakespearean storm?" .)