Crossword Genius

Speak highly of former tax cut (5)

Ross

I believe the answer is:

extol

I'm a little stuck... Click here to teach me more about this clue!

'speak highly' is the definition.
(I've seen this before)

'of former tax cut' is the wordplay.
I cannot quite understand how this works, but
'of' could be 'o' and 'o' is located in the answer.
'former' could be 'ex' and 'ex' is located in the answer.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for extol that I've seen before include "Crack up" , "Sing the praises of" , "Warmly approve of" , "Highly commend" , "Speak highly" .)

I've seen this clue in The Telegraph.
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