Cryptic crossword clue
Make out new plan for Marxist flotation 7

The most common and most likely answer to this crossword clue is the 7 letter word REDRAFT

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

The straight part
We know that "Make out new plan" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case make out new plan = redraft.
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 REDRAFT mean?

REDRAFT noun
  1. A second or subsequent draft
  2. A new bill of exchange which the holder of a protested bill draws on the drawer or endorsers, for the amount of the bill, with costs and charges.
REDRAFT verb
  1. To draft again

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