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If it's weighted down, no need to chase after it (5)

Ross

I believe the answer is:

paper

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'it' is the definition.
The definition suggests a singular noun which matches the answer.

I don't understand the rest of the clue.

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(Other definitions for paper that I've seen before include "Thin material used for writing, wrapping etc" , "Telegraph, for example" , "round > tiger" , "Short essay" , "Reams or quires" .)

I've seen this clue in the Evening Standard.
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