A new report published by the Mental Health Foundation and London School of Economics and Political Science reveals that mental health problems cost the UK economy at least £117.9bn annually – equivalent to around 5% of the UK’s GDP.

Almost three-quarters of the cost (72%) is due to the lost productivity of people living with mental health conditions and costs incurred by unpaid informal carers who take on responsibility in providing mental health support.

Across the UK there were 10.3 million recorded instances of mental ill health over a one-year period, and the third most common cause of disability was depression.

The report, ‘The economic case for investing in the prevention of mental health conditions in the UK’, makes the case for a prevention-based approach to mental health that would both improve mental wellbeing while reducing the economic costs of poor mental health.

Mark Rowland, Chief Executive of Mental Health Foundation, said:

“Our report reveals the monumental cost to the economy of poor mental health. It also demonstrates the opportunity to make a radical change in our approach to mental health by prioritising prevention, resulting in improved wellbeing for all and reducing costs to our economy. We urge governments across the UK to pay attention to what the evidence is telling us and commit to investing in cost-effective prevention interventions that are proven to work. Too often decision-makers may ignore or dismiss evidence-based programmes and policies focused on prevention, citing prohibitive expense. The truth is we cannot afford the spiralling costs to both people’s wellbeing and our economy by trying to treat our way out of the mental health crisis. Investing in society-wide measures to prevent poor mental health and address the factors that pose a risk to our mental health, will help people to thrive at every stage of their lives and boost our economy by billions in the long-term.”

Research gathered from the UK and internationally shows the potential public health and economic benefit of programmes that target and prevent mental health problems and empower more people to live well – for example, by addressing issues such as perinatal depression, bullying and social isolation in older people.

Other well-evidenced initiatives include promoting positive parenting, rapid access to psychological and psychosocial supports for people with identified needs and building supportive and inclusive workplaces.

Mental health is not given priority in many workplaces, despite a significant increase in employee demand for mental health support. People with mental health problems also still face discrimination and struggle to get the help they need. Employees are hesitant to reveal their feelings because of the stigma associated with mental health, and they do not communicate with their work colleagues about their mental health issues. That is why International Workplace launched its latest IOSH course, IOSH Managing Occupational Health and Wellbeing, last year. The course is for managers and supervisors working in any sector and for any organisation. It’s designed to provide them with the tools and techniques to improve health and wellbeing across their organisation. They won’t suddenly become health and wellbeing experts – but it will help them to become line managers who truly care about the health and wellbeing of an organisation’s most important asset – its people.

A growing number of studies report on the significant return on investment from workplace interventions, which found savings of £5 for every £1 invested in supporting mental health.

Lead author of the report, David McDaid, Associate Professional Research Fellow in Health Policy and Health Economics at London School of Economics, said:

“Our estimate of the economic impacts of mental health conditions, much of which is felt well beyond the health and social care sector, is a conservative estimate. What is clear is that there is a sound economic case for investing in effective preventive measures, particularly at a time when population mental health may be especially vulnerable because of the COVID-19 pandemic. This requires further sustained and coordinated actions not only within the health and social care sector, but across the whole of government.”

The £117.9bn costs are likely to be a significant under-estimate of the true costs – based on the lack of data available around some key areas. For example, health service costs are based on the number of people receiving treatment and do not consider the many people who would benefit from treatment but either does not receive it because of pressure on services or do not seek help. Additionally, no costs are included for reduced performance at work due to mental health problems, costs to criminal justice and housing systems linked to poor mental health, costs associated with addiction issues, or the costs associated with self-harm and suicide.

To read the full report visit www.mentalhealth.org.uk.