Paul Spencer
Head of Health, Policy and Campaigns, Mind
The cost of living crisis has been devastating for the mental health of people across the country. But still, the Government has not taken action.
The financial problems faced by households over the last two years have been brutal. While some groups — low earners, young people and those with pre-existing mental health problems — have fared worse than others, the cost of living crisis has affected the mental health of millions.
Link between cost of living and mental health
Research by Mind, earlier this year, suggests that the mental health of half (48%) of people in England and Wales had been negatively affected by the financial impact of the cost of living crisis, rising to nearly three-quarters (73%) for those with existing mental health problems.
The scale of this crisis has been massive. Even before prices started spiralling, we knew money and mental health were closely linked, but the cost of living crisis has left no doubt.
2.7 million people across the country have
considered taking their lives because of the
impact of the cost of living crisis.
Problems seeking mental health support
The issues Britain is facing are compounded by the fact that many people aren’t seeking the support they’d benefit from. Our research showed that over half (54%) of people affected by the cost of living crisis hadn’t accessed mental health support from a GP. This is despite two-thirds saying they are feeling more anxious (66%), stressed (65%) and more depressed (64%); and nearly half are feeling lonely (47%).
The impacts have been severe in many cases — 2.7 million people across the country have considered taking their lives because of the impact of the cost of living crisis. With 1.9 million people already on waiting lists for mental health support, it’s no surprise that many aren’t seeking the support they need.
Government action needed for mental health
This is why we must see more investment from the UK Government into our mental health services. For decades, mental health services have been seen as the younger sibling of physical health services — receiving the funding equivalent of hand-me-down, moth-eaten jumpers instead of brand-new clothing.
Going without the investment they needed for too long, the added pressures of the pandemic and the cost of living crisis have pushed our mental health services to the brink of collapse. Despite falling inflation, this crisis is far from over, and the echoes of its mental health impacts could be felt for generations. The only way this will be tackled is by giving mental health services the investment necessary — a brutal crisis truly needs a bold reaction.