Small Conservative deceits concealing new plots (10)

I believe the answer is:

storylines

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'plots' is the definition.
(I have computed that (IsStrictlyEqualTo (MultipleOf 05328f35) (MultipleOf 05328f35))\nI know that plot line is a type of story\nTherefore, ((IsStrictlyEqualTo (MultipleOf 05328f35) (MultipleOf 05328f35)) (IsSubclassOf 05328f35 c2697491)))

'small conservative deceits concealing new' is the wordplay.
'small' becomes 's' (abbreviation - e.g. clothes size).
'conservative' becomes 'tory' (informal term for a Conservative Party member).
'deceits' becomes 'lies' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'concealing' is an insertion indicator.
'new' becomes 'n' (common abbreviation eg NT for New Testament).
'lies' enclosing 'n' is 'lines'.
's'+'tory'+'lines'='STORYLINES'

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(Another definition for storylines that I've seen is " Plots".)

I've seen this clue in The Telegraph.

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