Rush suddenly around place to spend lavishly (7)
I believe the answer is:
splurge
'to spend lavishly' is the definition.
(I've seen this in another clue)
'rush suddenly around place' is the wordplay.
'rush suddenly' becomes 'surge' (surge can mean to increase or rush suddenly).
'around' means one lot of letters goes inside another.
'place' becomes 'pl' (abbreviation used in postal addresses).
'surge' enclosing 'pl' is 'SPLURGE'.
(Other definitions for splurge that I've seen before include "Lash out" , "Sudden burst of extravagance" , "Squander" , "Spend a lot" , "Spend lavishly" .)