UK sets £21 vet prescription cap to curb corporate dominance

The UK government will cap veterinary prescriptions at £21 and require every practice to hold an operating licence under a sweeping set of reforms published on Thursday. A new independent regulator will oversee the sector, conducting inspections and publishing compliance reports to enforce accountability.

The proposals represent a direct intervention into an industry that has transformed since the 1960s from small, agricultural practices into a consolidated market. Today, more than 60 per cent of UK veterinary practices are wholly or partially owned by just six corporate groups. Five of these, including VetPartners, IVC and Medivet, are backed by private equity, while the sixth, Linnaeus, is owned by Mars Petcare.

This rapid consolidation has drawn scrutiny from the Competition and Markets Authority, which found that public satisfaction with veterinary costs was "low". The regulator noted there was "not strong competition between veterinary businesses" as large chains became dominant. To counter this, the government's white paper proposes mandatory price lists and forced transparency regarding practice ownership.

Environment Secretary Emma Reynolds said the changes aim to reduce the financial burden on households. "Pets are part of the family, but for too many households the cost of caring for them has become a real worry," she said. "These reforms will help owners avoid unexpected bills, compare prices more easily and get the best value care for their pets."

Pet owners spent more than £6.7bn on veterinary services in 2024, averaging £390 per household. Complex procedures like canine cruciate ligament surgery can routinely exceed £5,000. "We're modernising a system that hasn't been updated for 60 years, putting pet owners first while giving vets the modern framework they need to support the future of the profession," Reynolds added.

CMA chief executive Sarah Cardell welcomed the intervention. "We back the government’s proposals, which include our recommendations on regulating the sector," she said. "For the first time, these proposals would ensure that vet businesses are accountable to an independent regulator, while offering consumers more protection and a fairer deal."

Campaigners argue that private equity's expansion has actively reduced consumer choice and prioritised profit over animal welfare. The closure of Great Western Exotics this year—the UK's only training centre for avian medicine—after its acquisition by a large conglomerate has been cited as a warning sign.