The Pet Industry Federation (PIF) has expressed serious concerns about the potential negative impacts of the recent Budget on the UK pet sector and pet ownership.
In a letter to Chancellor of the Exchequer Rachel Reeves, PIF highlighted issues stemming from rising costs that could affect affordability for pet owners and threaten the viability of pet-related businesses.
The pet industry in the UK, valued at £7 billion, plays a crucial role in supporting millions of pet owners and numerous small businesses. However, a survey conducted by PIF revealed that 76% of respondents believe the Budget could harm the economy. Additionally, 68% fear job losses within the sector, while 70% anticipate the need to increase prices due to growing operational costs.
PIF identified the combined pressures of wage increases, rising National Insurance contributions, and inflation as key factors driving up costs for businesses and consumers alike. Higher expenses in pet care could make pet ownership less affordable for families, potentially leading to an increase in pet relinquishments. Such changes could have wide-reaching consequences for businesses across the pet industry, including groomers, daycares, kennels, catteries, retailers, and manufacturers.
Broader Implications for Pet Ownership and Welfare
Nigel Baker, CEO of PIF, emphasised the wider societal and health benefits of pet ownership, noting that pets can ease pressure on the NHS. “Studies suggest pet ownership could save the NHS up to £2.45 billion annually,” Baker said.
He added that the Budget risks unintentionally raising the cost of pet ownership at a time when many families are already facing financial challenges. “During the recent cost-of-living crisis, many pet owners found it increasingly difficult to afford essentials like pet food, and this financial pressure is likely to return. This could force some owners into the heartbreaking position of surrendering their pets to rehoming centres,” Baker explained.
A rise in pet relinquishments would increase demands on already overstretched animal welfare organisations. Moreover, a decline in pet ownership could lead to broader impacts across the pet care industry, affecting businesses and the availability of quality products for consumers.
To address these concerns, PIF has urged the Treasury to introduce targeted relief measures to help the pet industry manage rising costs. Such support would ensure the resilience of the sector and maintain accessibility to affordable pet care products and services for UK pet owners.
