A lot of laws are in fact sub-categories of fraud. If the Fraud Act was strengthened and used effectively it could make a lot of other laws or codes of practice redundant. e.g. the trade descriptions act.
For example if a travel insurance company wrote back to all its'claimants saying 'you are not covered for that', without bothering to read the claim letter, knowing that 50% of the claimants would give up, then that is deliberate deception leading to financial gain, and is fraud.
Why does this idea matter?
To reduce the number of laws.
To clean up the private and public sectors
To prevent fraudulent business practices being dismissed as common, smart or sharp business practices.