Yes, but not by as much as you'd like, and it's been getting slowly worse over time for a while now.
The government - whichever party is in charge - has attempted to attribute the steady increase in grades to students being better-taught / cleverer, but are failing to hide the main causes of that, which are that the courses are being simplified and the grade boundaries adjusted so that you get higher grades for the same quality of work from the students. Most of this is subjective, but as an objective example, the year after I completed my Mathematics A-level (exam taken at approximately 18 years old, and the usual qualification used to obtain entrance to university), they pretty much directly removed 1/6 of the syllabus. (Precisely what happened: you had to take 6 exams, 3 of which were compulsory and 3 of which you could choose from a set. They changed the course to have 4 compulsory exams, which together covered the same material as the previous 3 compulsory exams, and requiring the choice of 2 of the optional exams. This lets you drop one of the optional exams, reducing the syllabus you have to cover, while still getting the same qualification.)