PRIVATE equity firms have been accused of collaring the market in a corporate “feeding frenzy” that has seen local, independent vets gobbled up by global giants.

Carolyn Thomas told the Senedd that non-vet ownership has led to a “monopolisation” of the sector, with six big firms owning 60% of UK practices – up from 10% a decade ago.

Leading a debate on Wednesday December 10, the Labour politician warned the “endless pursuit of profit” was driving down wages for staff while pushing up fees for customers.

“The cost-of-living crisis has put significant financial burden on pet owners,” she said.

“Many have been priced out of pet insurance, with premiums based on postcode. If an area has a large corporate presence, premiums are higher, but without insurance, sudden, huge vet bills can be impossible to pay…

“I read about pet owners skipping meals to cover costs, having to hand over their pets to rescue, or – in some cases – very sadly being forced to euthanise their pet.”

The short debate was prompted by a petition submitted by Linda Evelyn Joyce-Jones raising concerns about the corporate takeover of veterinary practices.

In 1999, the Blair UK Government changed the law to allow vet practices to be owned not only by qualified veterinary surgeons.

Ms Thomas raised an ongoing Competition and Markets Authority (CMA) investigation into the veterinary market for household pets which has uncovered major competition concerns.

She told Senedd Members: “One of the companies being looked into is IVC Evidensia, the largest provider of vet services in the UK, owning over 1,000 practices. It is owned in part by Nestlé, which also manufactures pet food.

“How can owners be confident of the quality of the food or the nutrition advice from their vet when the two have such a conflict of interest?”

Ms Thomas, who chairs the Senedd’s petitions committee, said bills for pet owners have increased by 60% – “double the rate of inflation and increases in vet salaries”.

She pointed to growing pressure on rescue centres, with the RSPCA reporting a 25% rise in the number of pets abandoned in Wales and England this year.

She said: “Pets are a much-loved part of the family and it can be incredibly worrying for owners and have a significant mental health impact when their animal becomes unwell.

“It’s even more stressful and expensive when this happens outside of normal practice hours, and many of the large companies… do not cover out-of-hours emergency care.”

Ms Thomas told the Senedd the corporate takeover is having a “severe negative impact” on those working in the sector, “which is plagued by support staff experiencing poverty pay”.

She warned vets feel pressured to upsell to pet owners or book emergency appointments for non-urgent symptoms due to strict deadlines and targets.

“The situation is clearly unsustainable,” she said.

“It’s costing the lives of pets, it’s traumatising and unaffordable for pet owners and has created an unacceptable work environment for vets and support staff.

“France has taken legal steps against the corporate ownership of clinics, and Ireland is considering the same. I believe that the UK needs to take action now, before it’s too late.”

The north Walian warned of a “dire” situation on Anglesey where there are no out-of-hours vet services, “a constant source of concern for local pet owners”.

Andrew RT Davies, the former Tory group leader, described the situation on Ynys Môn as an “unmitigated disaster” for islanders who view their pets as part of their family.

Responding to the debate, Huw Irranca-Davies, Wales’ Deputy First Minister, acknowledged the growing trend of corporate consolidation had raised critical questions.

Mr Irranca-Davies, who is responsible for animal welfare policy, said the Welsh Government was awaiting the final outcome of the CMA’s investigation expected in March 2026.

He pointed out that regulation of veterinary surgeons remains non-devolved as he welcomed the UK Government’s intention to consult on “timely” reform of the Veterinary Surgeons Act.

The MP-turned-Senedd Member, who was a Defra minister under Gordon Brown, said: “My priority is to ensure that Wales has exemplary standards of animal health and welfare, and a thriving veterinary sector is essential to achieving those goals.”

Second round of Crown Estate accelerator backs Welsh innovation as Celtic Sea sector gathers pace

PEMBROKESHIRE has secured a key share of a new £13 million investment aimed at accelerating the UK’s offshore wind supply chain, with Ledwood Engineering in Pembroke Dock named among the successful projects backed by The Crown Estate.

The announcement comes as the UK marks 25 years since its first offshore wind turbines were installed off Blyth, celebrating a sector that now employs 40,000 people and generates nearly a fifth of the nation’s electricity.

Funding to drive growth in the Celtic Sea

Sixteen projects across England, Wales and Scotland will share the funding, with Pembrokeshire’s role in the expanding Celtic Sea floating wind sector highlighted by both UK and Welsh Ministers.

Ledwood Engineering’s project — focused on automated mooring systems — is one of several Welsh schemes selected, alongside work by the Offshore Renewable Energy Catapult and a floating construction station at Port Talbot.

The Crown Estate says the accelerator programme is designed to de-risk early-stage supply chain development, helping UK companies get to the point where they can attract major investment and support the infrastructure needed for construction, manufacturing, assembly and maintenance of offshore wind projects.

This latest funding round is nearly three times larger than the first award last year. If the projects progress to full build-out, they could unlock £2.2 billion of capital investment and create around 3,000 skilled jobs.

Pembrokeshire’s critical role

The Welsh Government says today’s announcement demonstrates that Wales is “building the infrastructure and expertise to lead the floating wind revolution” — with Pembrokeshire a key strategic location because of its deep-water port, skilled energy workforce and proximity to Celtic Sea development zones.

Cabinet Secretary for Economy, Energy and Planning Rebecca Evans said:
“This funding is a significant vote of confidence in Wales’ offshore wind capabilities. From Ledwood Engineering’s work in Pembroke Dock to projects testing new technologies for the Celtic Sea, these developments will create high-quality jobs, deliver clean energy and strengthen our coastal communities for generations to come.”

The Secretary of State for Wales Jo Stevens said:
“The development of floating offshore wind in the Celtic Sea presents huge opportunities for Wales… creating thousands of well-paid skilled jobs. The UK Government is working with partners to develop home-grown clean energy which will secure our supply, reduce bills and help achieve net zero.”

Industry reaction

Julia Rose, Head of Offshore Wind at The Crown Estate, said the accelerator is helping early-stage projects reach the point where they can secure long-term investment.

“These innovative businesses will help us move closer towards our clean power and energy security goals. Supporting the onshore supply chain is essential if the UK is to keep pace with the scale of offshore development planned for the next 25 years.”

RenewableUK’s Head of Supply Chain Ajai Ahluwalia added that focusing on high-value components for offshore wind could triple the UK’s current manufacturing capacity and boost the UK economy by £25 billion by 2035.

What it means for Pembrokeshire

With major developments planned in the Celtic Sea, including floating offshore wind farms capable of powering millions of homes, today’s announcement strengthens Pembrokeshire’s position as:

• A manufacturing and engineering hub for large-scale renewable infrastructure
• A potential operations and maintenance base for future wind farms
• A region that could benefit from substantial job creation in the energy transition

The Herald understands that further announcements linked to port upgrades, fabrication facilities and construction-stage investment may follow as the Celtic Sea programme advances.

A CONSERVATIVE call to abolish rates for all small businesses in Wales has been voted down by the Senedd amid warnings the tax burden is “hollowing out” high streets.

Tory Senedd Members urged the Welsh Government to scrap business rates entirely for the smallest businesses to give them “breathing space” amid a record wave of closures.

Samuel Kurtz claimed Wales has the “least competitive” business rates in Britain coupled with the highest unemployment in the UK and the lowest take-home pay.

“This is not the framework of a thriving economy,” he said, warning of an “economic doom loop” following November’s UK autumn budget.

Mr Kurtz, the Conservatives’ shadow economy secretary, told the Senedd high streets will be “hollowed out” and communities “left poorer” without radical reform.

Leading the debate on Wednesday December 10, Mr Kurtz described a business rates revaluation as the “final blow” for many businesses.

“Countless small firms have seen their valuations double, triple or even quadruple,” he said. “One business owner told me recently that her monthly bill will rise by £8,000 – eight grand. For a small business, that’s completely unsustainable and untenable.”

Luke Fletcher, Plaid Cymru’s shadow economy secretary, welcomed the introduction of differential multipliers – a key determinant of bills – for high-street shops in Wales.

But he criticised the Welsh Government for excluding the hospitality industry from the lower rate multiplier, costing the typical pub an extra £6,800 a year.

“To not include hospitality… was a massive misstep by the government,” he said.

Rhys ab Owen, an independent, pointed out that Wales has had the highest percentage of small businesses closing since 2020 as he called for a VAT cut for hospitality businesses.

Conservative Joel James warned high streets are in a perilous state, with the Labour UK Government’s increase in employers’ national insurance “killing businesses”.

His colleague Gareth Davies painted a bleak picture of a “decimated” hospitality sector, warning a pub closes every day. He suggested small businesses are being “suffocated” by “punishing” policies at both ends of the M4.

Responding to the debate, Rebecca Evans defended the Welsh Government’s record, arguing the economic environment has improved despite challenges such as inflation.

Wales’ economy secretary pointed to existing support which she said protects thousands of small businesses from bigger bills.

She told Senedd Members: “Our small business rates relief scheme provides over £140m of relief annually to around 70,000 properties across Wales, with over 50,000 of these receiving 100% relief and paying nothing at all.”

The Tory motion, which also called for free parking in town centres and the reversal of tourism tax plans, was voted down 34-12 with one abstention. Labour and Plaid Cymru amendments were also rejected as Senedd Members failed to reach any agreement.