Did anyone of significance actually say this? I thought the point was cutting red tape (yeah, right) following which it is surely concomitant that standards will slip.
How can standards improve if you remove regulations around products? The purpose of regulations is surely to improve standards. In relation to businesses, they (at the simplist level) impose requirements around standards.
That is their purpose. The counterpoint is that the requirements can be too burdensome and disproportionate- and some of those requirements are unnecessary. Which is a perfectly valid argument.
But how could anyone seriously suggest it was going to increase standards?