The idea
Get rid of any farming regulations that are not imposed upon imports, so any livestock welfare requirements that are imposed on British farmers but not required for food imported from other countries.
Why is it important?
Either these standards are necessary or they are not.
If necessary they should apply to everything sold in the UK, if not, don't impose them on British farmers making them uncompetitive.
If the regulations are about welfare, what is the point in having high standards of welfare in the UK if the UK farmers go out of business and the cheep intensively reared bacon, chicken etc… comes in from abroad.
If the regulations are about food safety, then they should apply to everything sold in the UK, irrespective of where it was caught, reared, slaughtered, packaged re-packaged etc…