The Pet Industry Federation (PIF) has proposed introducing targeted relief for the pet industry in a letter to the Chancellor of the Exchequer, Rachel Reeves.
The £7 billion UK pet industry supports millions of pet owners and local businesses, says PIF, and a recent survey of its members revealed that 76% of respondents believe the recent Budget will be 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, with these increases are likely to lead to higher prices, affecting affordability for consumers and threatening the viability of small, innovative retailers and manufacturers, argues the Federation.
The rising costs of pet care will make it harder for families to afford pets and could increase pet relinquishments as a result, while a decline in pet ownership would impact all pet businesses – from pet groomers, daycares, kennels and catteries, as well as retailers and manufacturers, the letter explains.
PIF chief executive Nigel Baker 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.”
