Conservative grey hairdo finally shaven flat this heralds cooler times (9)

I haven't cracked this one yet — but the brilliant team at Fifteensquared have:

Conservative grey hairdo finally shaven flat, this heralds cooler times C (=Conservative) + OLD (=grey) + ˈFRO (=hairdo, i.e. afro) + <shave> N <fla> T (“finally” means last letters only)