Crossword Genius

Herr cent (nag) – cut down expenses (8)

Ross

I believe the answer is:

retrench

(Other definitions for retrench that I've seen before include "Cut back during hard times" , "Cut back, tighten one's belt" , "Conserve or cut down" , "Introduce economies" , "Cut back spending" .)

I've seen this clue in The Guardian.
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