Labour man in street naked (5)
I believe the answer is:
straw
'labour man' is the definition.
(Labour politician Jack Straw)
'street naked' is the wordplay.
'street' becomes 'st'.
'naked' becomes 'raw' (I've seen this before).
'st'+'raw'='STRAW'
'in' acts as a link.
(Other definitions for straw that I've seen before include "Disastrously, it may be the last" , "Remains of corn" , "Animal bedding" , "politician" , "Cornstalks (often the last)" .)