Another attempt to 'control' the thing they don't understand, ignore any technical advisors, and play to the crowds.
Unfortunately there are a vocal group who want little Johnny protected from the big bad internet, and who have no desire to educate him themselves, so want a Gov approved scheme - and these sort of plans fit nicely into that.
Hopefully common sense prevails again.
Edit: If it does go through, hopefully it will be a UK Gov Tech project, and will go so horribly over budget and time that it will be scrapped after declaring some allowedwords.txt was a success