The rise in mental health problems caused by the lockdowns in Victoria and NSW have already cost $1 billion in lost productivity and those aged 15 to 25 are likely to be the worst affected, according to updated modelling by the University of Sydney’s Brain and Mind Centre.

The figure builds on earlier modelling by the centre that estimated the productivity cost of the COVID-19 pandemic at more $20 billion a year due to a projected increase in psychological distress, hospitalisations and suicide.