Even if you make the calculations for the UK instead of the Balearics, the fuel prices COULD still be considered bearable (!). Try this: Solent to Dartmouth, say 200 miles there and back. A 55ft would do about 0.8 mpg at an enjoyable cruising speed, which makes about 250 gals there and back = approx 1100-1200 litres. At £1.20/L that would be about £1400. Add say £600-700 for berthing fees for a fortnight's holiday, and you have a 2-week family holiday costing you around £2000-ish. Say 4 on board and that's £500 each. Assuming my maths are about right, then I'm almost convincing myself that it makes financial sense. Not sure I would want to do it for a weekend though!!!  Okay, you're right, anyone with any sense will buy a sailing boat instead.
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Re: Looking for a Boat but advice needed re the Red Diesel Debacle!