Shut up about waste (5)

I believe the answer is:

'shut up' is the definition.
(thesaurus)

'about waste' is the wordplay.
'about' becomes 'c' (abbreviation for 'circa').
'waste' becomes 'lose'.
'c'+'lose'='CLOSE'

(Other definitions for close that I've seen before include "On intimate terms" , "small quiet road" , "cathedral precinct" , "Tightly" , "Not far off" .)

I've seen this clue in The Independent.

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