Penny increase gets approval (6)
I believe the answer is:
praise
'approval' is the definition.
(I know that praise is a type of approval)
'penny increase' is the wordplay.
'penny' becomes 'p' (short for pence).
'increase' becomes 'raise' (raise is a kind of increase).
'p'+'raise'='PRAISE'
'gets' acts as a link.
(Other definitions for praise that I've seen before include "Honour" , "Commendation" , "Eulogise" , "Commend or laud" , "Worship, glorify" .)