Cryptic crossword clue
Savvy old Tory Chancellor’s absence is recorded 7

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

K
N
O
W
H
O
W

Buddy explains!

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 KNOWHOW mean?

KNOWHOW noun
  1. The knowledge and skill to be able to (do something correctly).

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