To quote directly from today's Times on the purpose of the report cards:
The report cards will give information on students' performance throughout their time at university, such as a breakdown of grades by modules and details of areas in which they have excelled. They will be given alongside a graduate's traditional final degree grade, and aim to give employers, higher education institutions or other interested parties more contextual detail about a candidate's abilities.
Confusingly, The Times is saying that the report cards are intended to supplement the traditional degree classification system whereas the Guardian talks about them being an eventual replacement of the '200-year-old degree classification system'. The Guardian refers to them as 'achievement reports', though. Achievement reports will contain, amongst other things, a full breakdown of results for modules studied and any prizes won. The report cards are likely to be particularly useful to employers because they contain assessments of the student's presentational skills and ability to work effectively in a team.
Any student seeking a legal career after graduating will view this differently. Recruiters in the legal profession already, in my experience, manage to successfully identify an applicant's presentational skills and team-working skills. Especially on the solicitor side. Typically, as part of a training contract application to a city law firm (or really any commercial law firm) you will be required to write about examples of when you used these skills in application forms. After that, if invited to an assessment centre, the graduate recruitment team at the firm will be able to test your competency in these areas themselves.
Even recruiters in the legal profession might welcome this proposal, though. This is because it is veritable evidence that the applicant actually did the activities they say they did and used the skills they say they developed. At the moment, I don't believe the same checks exist by university tutors who, in their references to employers, are only really required to ensure the applicant has achieved the first and second year grades they stated in their application form.