Attention given to Liberal peer (4)
I believe the answer is:
Here is my best explanation:
'peer' is the definition.
(earl is a kind of peer)
'attention given to liberal' is the subsidiary indication.
'attention' becomes 'ear' (have the ear of someone is to have their attention).
'given to' means one lot of letters go next to another.
'liberal' becomes 'l' (abbreviation).
(Other definitions for earl that I've seen before include "Rank immediately above viscount", "House member", "The ___ of Sandwich", "A real peer", "Count", "Noble title", "Real (anag) - nobleman", "Title", "Jimmy Carter's middle name" and "Countess his wife".)