Little old peers and VIPs, terribly dictatorial (10)
I believe the answer is:
Here is my best explanation:
'dictatorial' is the definition.
'little old peers and vips terribly' is the wordplay.
'little' says to take the initial letters.
'and' is a charade indicator (letters next to each other).
'terribly' indicates anagramming the letters.
The initial letter of 'old' is 'o'.
'peersvips' anagrammed gives 'ppressive'.
(Other definitions for oppressive that I've seen before include "Difficult to bear", "Harsh, authoritarian", "cruel", "overpowering!", "Sultry" and "Tyrannical".)