The backstory is that some "knobhead" in the Home Office (like some knobheads on this Forum) referred to loaded ammunition in official drafts on changes to the law proposed as "BULLETS" and so, unfortunately, it stuck. Whereas what was meant to be in the changes proposed was "AMMUNITION". Still it might all be urban myth. Yet I go, now, into some gunshops and ask if they any expanding .270" BULLETS to have them then pull out packets of loaded ammunition thinking that is what I've wanted to buy.
If you mean the 1997 changes to the law, that's incorrect. The background is that Hamilton used some expanding bulleted 9mm ammo in his rampage. A trio or quartet of 'red-tops' got to hear of this and started a populist press campaign to have such 'bullets' banned - the usual 'Dum Dum' and 'no place for these flesh-tearing bullets in a civilised society' emotive cr*p, and not for the first time that they'd raised it. (Even the 'broadsheets' weren't immune - the gossip column in The Times said in one issue pre Dunblane that friends of the Rt. Hon. xxxxxxxxxxxxxx said 'he was a cad' as he used 'Dum Dum' bullets in his deerstalking ........... and had to print an apology and explanation in the following day's edition.)
Anyway, a group of Labour MPs jumped on the newspapers' populist bandwagon and demanded a ban during the amendment Bill's second reading. Gaining permission to interrupt Michael Howard's peroration on the legislation and changes that the government now proposed, their leader asked The Rt Hon member for wherever (ie Howard) whether he 'would give this house an assurance that these bullets and ammunition loaded with them would be banned and that would be included as an amendment in the Bill' or words to that effect.
Michael Howard without hesitation gave the MP and the House this assurance. When he came out of the chamber, he found his H.O. officials were appalled by the blunder. (A nasty rumour has it that his Permanent Secretary asked Howard how he, Howard, was going to explain to HRH that he had just proposed making her deerstalking illegal.) The P.S suggested to Howard he would have to grovel to Parliament and admit that he had spoken too hastily in the absence of the full facts, and that it was essential to continue to allow expanding bullet ammo to be used so there would be no such amendment.
Howard refused point - blank to admit to any such mistake and suffer a major loss of face. He told his officials to come up with a mechanism whereby he could be seen to have kept his promise ... but to somehow not keep it in the application of the law. Hence the present dog's breakfast. I doubt very much if there was any doubt amongst H.O. officials that with handloading becoming ever more popular, if you created this special quasi-prohibited status for ammunition, you had to do the same for bullets.
After the Tories lost the next election and John Major resigned as head of the Conservative party, Mr. Howard was one of the leading contenders in the subsequent leadership elections. I remember feeling cold at the time at the thought that this man might win them and potentially become Prime Minister.