The Productivity Commission provides independent research and advice to the Commonwealth Government on a range of issues affecting Australians.
The final report of the Productivity Commission's Mental Health Inquiry was published this week.
It found mental ill-health and suicide costs Australia up to $220 billion dollars a year. This includes costs of $150 billion for diminished health and reduced life expectancy of people living with mental illness.
The Report said one in five Australians experience mental illness every year.
“Many do not receive the treatment and support they need,” the report states. “As a result, too many people experience preventable physical and mental distress, disruptions in education and employment, relationship breakdown, stigma and loss of life satisfaction and opportunities.”
The Mental Health Inquiry Report recommends a long-term plan for Australia's mental health system.
The Commonwealth Government will respond to the Report by the federal budget in May 2021.
Both the Victorian and Commonwealth governments have boosted funding for mental health in response to the COVID-19 pandemic.
The Victorian Government last week announced almost $870 million dollars in funding for mental health in the 2020/21 Budget.
This includes funding the rollout of the interim recommendations made by the Royal Commission into Victoria's Mental Health System
Mental Health Reform Victoria (MHRV) is working to deliver these recommendations.
The Royal Commission's final report is due to be published in February 2021.