UK Pet Industry Writes to Chancellor Rachel Reeves Over Budget Concerns

The Pet Industry Federation (PIF), has written to the Chancellor of the Exchequer, Rachel Reeves, this week to express significant concerns about the recent Budget and its potential negative effects on the pet industry and pet ownership.

The UK pet industry, a £7 billion sector, supports millions of pet owners and local businesses. However, a recent survey by PIF revealed that 76% of respondents believe the Budget is harmful to the economy, with 68% fearing job losses and 70% expecting to raise prices due to increased costs.

PIF’s concerns focus on the rising costs from higher wages, National Insurance contributions, and inflation. These increases are likely to lead to higher prices, affecting affordability for consumers and threatening the viability of small, innovative retailers and manufacturers. The rising costs of pet care will make it harder for families to afford pets and could increase pet relinquishments as a result. A decline in pet ownership would impact all pet businesses – from pet groomers, daycares, kennels and catteries, as well as retailers and manufacturers.

Nigel Baker, PIF CEO, said: “Pets bring substantial health and social benefits, including easing the strain on the NHS, with studies suggesting pet ownership could save the NHS up to £2.45 billion annually. However, our recent survey highlights how the Budget may inadvertently raise the cost of pet ownership. 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, placing additional strain on already overstretched animal welfare organisations and potentially leading to a decline in pet ownership. This, in turn, would have significant consequences for the wider pet industry.

“We have asked the Treasury to consider targeted relief for the pet industry to alleviate financial pressures to ensure the industry’s resilience and the continued accessibility of quality pet care products for UK pet owners.”

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