Hello "Pie in the Sky",
Basically you've got to agree with 747 here. It does boil down to money as everything in life does.
Exams are getting easier. This is a known fact. You look at A-Level Physics 10 years ago and you will find derivations and loads of calculus- fair enough its found in classical mechanics. However, todays syllabus focuses mostly on a qualitative aspects of the subject. This has been introduced to encourage students to take the subject in the first place as many hate the mathematical rigor previously associated with the subject.
The more students who pass GCSEs and A-Levels is an all win situation for everyone bar the employer. Firstly the students benefit because they come away with first rate results. The schools and teachers are happy because it shows that education is improving (rubbish!) the government is also happy because it shows that their policies are working. Well finally comes the employer. The employer finds that the kids who have gained handfuls of *A and A's can't even spell or add up!! Blo@@y marvelous, isn't it!! Hence come all the battery of aptitude tests and other toss.
A kid who gains *A's in todays subjects would obtain a few grades lower in the old 'O'-Level system. Basically whats happened is that the 'O'-Levels have simply become the 'A' Levels in todays system. Standards are slipping!!!
The government wants 50% of the population to go to University. This is totally crazy. All the government wants to do is for 50% of the populus to disappear for 3 or 4 years to stop unemployment figures from rising. Its just one big conveyor belt. Many graduates will end up like 747 says in jobs that do not require a degree i.e. Burger king. Also all these establishments gain money from having 'bums on seats' so they don't complain about accepting more students. All they are really doing a de-valuing the failing system by accepting students who should not be in further/higher education in the first place!