Out? A Liberal admitting nothing speculative (8)
I believe the answer is:
notional
'speculative' is the definition.
('notional' can be a synonym of 'speculative')
'out? a liberal' is the wordplay.
'out?' becomes 'notion' (I can't explain this - if you can you should give a lot more credence to this answer).
'a liberal' becomes 'al' (I've seen this in other clues).
'notion'+'al'='NOTIONAL'
'admitting nothing' is the link.
This may not be correct. Some or all of it may belong to another bit of the clue.
Can you help me to learn more?
(Other definitions for notional that I've seen before include "Unreal" , "Like ideas of" , "Theoretic" , "La Gioconda" , "Theoretical" .)