Crossword Genius

Shrewd economy measure by head of exchequer (4)

Ross

I believe the answer is:

cute

I'm a little stuck... Click here to teach me more about this clue!

'shrewd' is the definition.
(I've seen this before)

'economy measure by head of exchequer' is the wordplay.
I cannot really see how this works, but
'economy' could be 'cut' (both can mean a cost-saving measure) and 'cut' is present in the answer.
'measure' could be 'e' (e is a kind of measure) and 'e' is found within the answer.
No letters remain.
This may be the basis of the clue (or it may be nonsense).

Can you help me to learn more?

(Other definitions for cute that I've seen before include "Charming, quaint" , "Daintily pleasing" , "Attractive and quaint (4" , "Appealing -- cunning" , "Sweet, attractive" .)

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