Policeman has right time – and gossip! (4)
I believe the answer is:
dirt
'gossip' is the definition.
(as in the phrase 'dish the dirt')
'policeman has right time' is the wordplay.
'policeman' becomes 'di' (detective inspector).
'has' is a charade indicator (letters next to each other).
'right' becomes 'r' (common abbreviation).
'time' becomes 't' (abbreviation).
'di'+'r'+'t'='DIRT'
'and' is the link.
(Other definitions for dirt that I've seen before include "Obscenity" , "Grime - scandal" , "Scandalous information" , "Grime - or controversial retention tax" , "Scandalous info; earth" .)