Red tape reformed and gradually reduced (7)
I believe the answer is:
tapered
'gradually reduced' is the definition.
The answer and definition can be both related to change as well as being past participle verbs.
Perhaps they are linked in a way I don't understand?
'red tape reformed' is the wordplay.
'reformed' indicates an anagram.
'red'+'tape'='redtape'
'redtape' anagrammed gives 'TAPERED'.
'and' acts as a link.
Can you help me to learn more?
(Other definitions for tapered that I've seen before include "Narrowing towards one end" , "Coming to a point" , "came to the point" , "Narrowed to a point" , "got slimmer" .)