It is possible to recycle a yacht! Restrictions would be difficult legally, and it’s probably not in the top 10 sources of emissions for the ‘average’ billionaire
The government is banning the sale of all gasoline cars by 2030s: I don’t see any reason it can’t ban the sale or manufacture or docking in British ports of certain types of watercraft
You could ban them in British waters (although how do you define one, without covering legitimate vessels) but most are flagged and kept overseas. Many of these countries have a strong incentive to maintain the status quo ($$$$)
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