Clue: King leads fight with tense English ex-Chancellor (8)
Answer: KWARTENG
Explanation: Definition: ex-Chancellor
 K(symbol for "king" in chess notation) **plus**(leads) WAR(a fight/a conflict) **plus**(with) T(abbrev. for "tense" in grammar) + ENG(abbrev. for "English").
Answer: Kwasi, most recent ex-UK Chancellor.