Thank you. I'd just like to pull a little bit out of the information from Unite. So they've done a lot of work on this and supported the workforce of Valley Vets, who are in dispute with VetPartners, saying it's
'the tip of the iceberg in the veterinary sector',
in which support staff are now
'experiencing poverty pay, falling real terms wages for clinical staff',
although there are 25 per cent increases in charges. It says that
'Staff struggle to make ends meet.'
'Clients struggle to afford veterinary fees leading to financial difficulties, patients not being presented for treatment and hence suffering and unnecessary euthanasia.'
It's shocking all round. Also, there's a concern, it says here,
'Since 1999 non-veterinary ownership of veterinary practices has been permitted',
which has started all of this.
'This has led to a feeding frenzy of corporate acquisitions of UK practices by 6 large companies which now own 60% of the veterinary sector. Some of these are themselves owned by private equity'—
so that's the other thing that's coming into it—'including Vet Partners'. And it says here,
'BC Partners acquired Vet Partners (VP) in 2018 for £720 million and attempted to sell it last year for £3 billion'.
So, it's that money side behind it. It sounds like there are similar issues in America, and, in France, they've taken legal steps against corporate ownership of clinics.
So, the CMA, the Competition and Markets Authority, is currently investigating the six corporations who own roughly 60 per cent of all veterinary processes, citing the uncompetitive environment leading to overcharging for customers and poorer service. So, it says here that the CMA have had an unprecedented 56,000 responses from pet owners and vets to the CMA's call for information, which is a lot to work through. The CMA previously published a timetable for the review, which I think is important to note. So, currently it's receiving information requests, publicising statements and receiving submissions from mainly third parties until January 2025; between November 2024 and January 2025, it will publicise working papers and disclose relevant parties; March 2025 will be the deadline for all parties' responses and submissions before the provisional decision; and then the final decision will be published in September-October 2025. So, as Rhys said, it sounds like there's a lot of work going on.
They have said that they've been looking at the work of the Petitions Committee, and I believe that the petitioner as well has been giving evidence, which is really good—to have that inclusivity. There's a little bit of concern that it might be a little bit one-sided, the information there, but to have 56,000 responses, I'm hoping that they're taking good note of all of those from people. It shows how big it is. And, as you said, going forward, we could keep a watching brief on this and then perhaps refer it back again to the Economy, Trade and Rural Affairs Committee, when they might have room in their timetable. So, it sounds as if this year could be really busy, but possibly in line with this we could try again. How do other committee members feel about that? Peter, is that okay?