These positions that were previously reserved for graduates were previously taken by school leavers. Due to the mass expansion of higher education, jobs that were previously being taken by school leavers became graduate jobs, quite simply because there was enough graduates in the market looking for work for companies to be able to only select graduates for interviews. But now, with all the fear over the new fees, companies are anticipating the amount of graduates to drop, meaning that they may not be able to fill their positions only with graduates.
There is absolutely nothing to suggest that the quality of employees will decrease, either. These jobs were previously taken by school leavers, who did the job just fine. Obviously, graduates and the AGR have an interest in promoting the skills of graduates over non-graduates, and that should be kept in mind. Most graduates have degrees that are not relevant to their future line of work. Whilst people talk about skills such as "analytical" ones and "creativity" (which are extremely vague) that graduates supposedly have, do people not realise that such skills can also be gained outside of a univeresity? In fact, would such skills not actually be best gained in a real-world setting, where they would have been gained before?
This would leave university for the people who want to learn about a subject they enjoy, which is the way it should be; not a job factory.