A new orgnisation called Ofqual has been set up to keep an eye on exam standards. What I don't understand is whether they are supposed to maintain them as they are now or return them to something sensible.
I can't speak for other subjects but Maths and Science are much easier now than they were 25 years ago. A combination of modular exams that can be resat, coursework where just about anything gets marks, questions that have changed from rigorous fact or calculation to waffle plus the simple measure of lowering the pass marks have improved results tremendously.
No need to take my word for it though, just ask any University lecturer in Engineering for example, about how they have had to make their courses easier over the last two decades or read the complaints here or here, from those who are desperate for employees who can read, write and do a few easy sums.