Risk - this is what has to be addressed.
As stated clearly above we are in a position to assess the risk against cost and likelyhood and act accordingly.
I am a non smoker but I can be killed by inhaling passive smoke, so I must wear a mask.
I am a pedestrian and can be killed by a motor vehicle mounting the pavement unprotected by a suitable barrier.
Both the above are in the hands of government and thay will do absolutely nothing about these dangers.
However they feel obliged to demand we protect ourselves against ourselves, STRANGE and unbalanced reasonong!
Twins can make the journeys across most common routes within the British Isles without requiring floats, ELT, life raft, immersion suit, and life jacket. However, these items should be worn/carried if you see that the risk to you is such that without them you would endanger yourself and others. The personal choice for private pilots and their passengers.
If I were able to buy a helicopter and my journeys were so often over water I would equip myself with all these safety features. However if it was once a year then I would accept the risk.
My opinion