Cryptic crossword clue
Inability to grasp a pound? Conservative cuts tragic reality 10

The most common and most likely answer to this crossword clue is the 10 letter word ILLITERACY

I've seen this crossword clue in The Guardian
I
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Buddy explains!

The straight part
We know that "Inability to grasp" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case inability to grasp = illiteracy.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does ILLITERACY mean?

ILLITERACY noun
  1. The inability to read and write.
  2. The portion of a population unable to read and write, generally given as a percentage.
  3. A word, phrase or grammatical turn thought to be characteristic of an illiterate person.
  4. (by extension) Unlearnedness; the state of being ignorant or unlettered.

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