Do you believe that a murder weapon is off limits if you get home before the police catches you? (It's a rethorical question)
The way I read this article, and it's tricky because the Daily Mail is expert at spinning things their way, is that they are proposing that any knives the police does not like might be seized and destroyed if your home is searched.
Found the actual proposal:
"Proposal 2: Power to seize and retain/destroy certain bladed articles held in private if the police are in private property lawfully and they have a reasonable belief that they will be used in serious crime." [1]
[1] https://www.gov.uk/government/consultations/machetes-and-oth...