Level with the flag (8)
I believe the answer is:
standard
I believe this clue is a double definition.
'level' is the first definition.
(I have seen 'Level of quality ' mean 'standard' so perhaps 'level' could also mean 'standard')
'flag' is the second definition.
(standard is a kind of flag)
'with the' acts as a link.
(Other definitions for standard that I've seen before include "'Reference point, touchstone (8)'" , "Principle" , "Normal quality" , "thing seen looking down The Mall?" , "Flag - norm" .)