Lucky escape, as Conservative is defeated with experience (5,5)
I believe the answer is:
close shave
'lucky escape' is the definition.
'close shave' can be an answer for 'escape' (I have seen 'Narrow escape' mean 'close shave' so perhaps 'escape' could also mean 'close shave'). I am unsure of the 'lucky' bit.
'conservative is defeated with experience' is the wordplay.
'conservative' becomes 'C' (UK political abbreviation).
'is defeated' becomes 'loses' (to lose is to be defeated).
'with' means one lot of letters go next to another.
'experience' becomes 'have' (synonyms).
'c'+'loses'+'have'='CLOSE SHAVE'
'as' is the link.
Can you help me to learn more?
(Other definitions for close shave that I've seen before include "Sharp razor helps with this" , "nasty moment" , "result being not so hairy" , "Chases vole (anag.)" , "Near thing" .)