Crossword Genius

Taken down a peg by the ministry, indeed! (7)

Ross

I believe the answer is:

demoted

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'taken down a peg' is the definition.
(I've seen this in another clue)

I can't explain the rest of the clue.

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(Other definitions for demoted that I've seen before include "Put down in rank" , "Downgraded" , "Slippery fish" , "Reduced in rank" , "Relegated" .)

I've seen this clue in the Evening Standard.
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