At £22,000 over the course of its lifetime, the average Fido now costs its owner more than half what it does to raise a child.

Britain’s army of dog lovers will spend £145 billion caring for their 6.5 million pets from basket to grave, new figures show.

As 25,000 owners prepare their pooches for the Best in Show competition at Cruft’s next week’s, they may contemplate the fact that a Mercedes C Class saloon car (£21,859) would have put a smaller dent in their finances.

Anyone extravagant enough to have two dogs should note that at £43,056 per child, according to last month’s survey by Family Circle magazine, parenthood would have been cheaper.

It seems that the vast majority of owners — 90 per cent — underestimate the cost of their four-legged friends. Using its own pet insurance data and a survey of nearly 2,000 dog owners, Churchill Insurance worked out costs from the initial purchase to the annual food, care, health, insurance and other bills.

More than half (52 per cent) of those questioned as part of the annual Cost of a Dog survey by Churchill expected the total expense to be less than £5,000. Ninety per cent thought that the figure would be less than the actual £22,000 total cost, which is nearly as much as the national average yearly wage (£22,900). This includes spending on food, vets and kennels for a dog’s average 12-year lifespan, but it can climb even higher for certain breeds.

Despite living for only a decade, a great Dane will set its owner back as much as £32,810.

Diminutive Jack Russells are a more economical option at £18,052. Even a lowly mongrel costs £21,734, thanks to its 16-year lifespan.

Mike Ketteringham, Churchill’s head of pet insurance, said: “There are significant differences between the costs of different dog breeds. It is important that people take this into account as one of the factors when choosing their new pet.”

For those with more expensive tastes, luxury leashes, designer collars and brand-name accessories all add to the bill.

And there is little chance of recouping much of this outlay. Even Crufts’ top dog will bring home only £500 for his master.

“But they will be probably the best dog in the world,” insists Philip Buckley of the Kennel Club, “and its about the prestige.

“It can cost a lot of money and some people don’t take it seriously enough, which is why dogs end up in rescue centres.”

But, he added: “Keeping them is well worth it.”

More than two thirds of the survey respondents were inclined to agree, with 68 per cent citing the companionship they received as the best thing about dog ownership.

Mr Buckley added that “with a dog you get loyalty and undying love. Plus, owning a dog lowers your blood pressure.”

This last point, at least, is something that cannot often be said of parenthood.

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