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Бизнес

How a wave of lockdown depression sets Britain's £40bn time bomb in motion

British mental health was deteriorating even before the pandemic.

In 2016, about 15.1% of people of working age age had poor mental health. By 2019, this figure had risen to 17.9%. Although the increase may not seem significant, it is almost two million people.

This comes amid a sharp drop in real incomes following the financial crisis and rising NHS waiting lists amid growing demand and reduced services.

p>Then came Covid with its lockdowns and social isolation. The number of people experiencing difficulties has increased dramatically.

Waiting lists have reached an all-time high

Before the pandemic hit, about one in ten adults suffered from some form of depression. At the height of Covid in early 2021, that figure more than doubled to 21 percent. Even though the threat of a pandemic has abated, the depression rate is still around 16%.

The price of this spike in mental health deterioration, which has accelerated due to self-isolation, is only becoming clear now.

p>The sluggish British economy is losing £43bn a year due to a growing 'burden of disease', new research shows, reflecting deteriorating overall health. Mental health accounts for about a third of that £14 billion.

Today, nearly one in three Britons suffers from a chronic illness, with depression rates rising at the fastest rate since cancer and diabetes in a decade.

The rise is costly for those affected and for the economy as a whole. , says Chris Thomas of the Institute for Public Policy Research (IPPR), who is one of the authors of the study.

Sick Britain

“The prevalence of mental illness is on the rise. In the context of the UK getting poorer, we are also finding that this is not happening in isolation from mental health. In fact, they are very closely related to each other,” he says.

“We see a big impact on people’s annual income after the onset of a mental illness.”

In the years leading up to the pandemic, living with a mental illness was correlated with a £2,184 drop in annual earnings. This was higher than the onset of chronic illness, which led to a decrease of £1,848.

Meanwhile, over the years of lockdown and the furlough program, these numbers fell slightly, but the gap remained: mental health-related losses were 1,716 £1,404 and physical health issues £1,404.

People with poor mental health are much more likely to quit their jobs, and were 71 percent more likely to do so before Covid. During the pandemic, this figure rose to 112%.

“A lot of people will think we have an NHS that is free at the point of delivery [and] unlike the US, we won’t face these catastrophic costs of illness. But in reality, although you won't get billed for any medical care, the cost to our income can be very, very high,” says Mr. Thomas.

Loss of income

Britain's mental health is deteriorating Health is facing a broader context of rising chronic illness and stagnating life expectancy. From 1960 to 2020, the UK has moved from seventh in life expectancy at birth among OECD countries to 23rd.

This is happening as more people claim disability benefits, which increases costs to society. wallet.

“Starting in 2021, we are seeing a significant increase in the number of people applying for disability benefits, and they seem to be succeeding at the same rate as applicants in the past,” says Tom Waters of the Disability Institute. Financial research.

«This means that the number of people receiving disability benefits has increased significantly every month, while the number of people leaving the other end has not changed significantly.

“Assuming this trend continues, that means a significant increase in the medium term in the number of people receiving disability benefits, and this is something that has been growing for decades anyway, and so this is potentially a very, very important, very important change.” .

Mr. Waters says that while the rise was driven by a wide range of chronic conditions, one factor is the rising prevalence of poor mental health.

>The Office of Accountability estimates that spending on disability benefits will almost double from £26bn in 2021-2022 to £47.5bn in 2027-28.

The IPPR study showed that despite the emergence of chronic diseases made the unemployed 14% less likely to work, and mental health problems reduced the likelihood to 53%.

Across the population, almost half of the people said that their mental health affects how much they do at work at least some of the time. For people with poor mental health, this figure rises to 90%.

Since the pandemic, the UK's workforce has contracted the most among the G7 countries. Economists attribute this trend to rising long-term illness and early retirement.

Working population chronically ill

The number of people out of work due to chronic illness has surpassed 2.5 million since Covid.

Among young people, mental health problems lead to increased levels of inactivity. This is of particular concern, says Charlene McGee of the Health Foundation.

«There is a risk that such cycles will take hold,» she says.

“We know when you experience this kind of distance from the job market, especially at a young age, that is likely to have an undue impact on your future, such as your career prospects and the level of financial security you can count.»

According to the Office of National Affairs, statistics show. Mental illness, phobias and nervous breakdowns were the main reasons for the increase in the number of people aged 16 to 34, increasing by 24 percent.

While Covid may have disappeared, the cost of living crisis will also increase the burden on mental health. experts say.

None of the above bode well for the future, but the examples of other wealthy countries such as Japan, South Korea and Ireland that have successfully corrected their health situation show that it is possible,” says Mr. Mr. Thomas.

This is what the UK needs or the costs will continue to rise as we become more sick and miserable.

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