Poor mental health of LGBTIQ+ Victorians costs up to $3bn

One group of people is at significant risk of poor mental health, coming at a huge economic cost, a new study has revealed.

Anxiety, depression and suicide among Victoria’s LGBTIQ+ community comes at an economic cost of up to $3 billion, according to a new study.

A Deloitte report commissioned by Thorne Harbour Health studied the cost of adverse mental health outcomes among adult LGBTIQ+ people in the state.

The population was at “significantly higher risk” of poorer mental health outcomes, owing to complex factors including discrimination, isolation, increased drug and alcohol use, trauma from past laws criminalising homosexuality and the impact of so-called conversion practices.

“These factors mean those in the LGBTIQ+ community are more at risk of mental illness, and that those living with mental illness in the LGBTIQ+ community may be more likely to experience exacerbated or untreated mental illness,” the report released on Monday found.

Poor mental health among Victoria’s LGBTIQ+ community comes at a huge cost, a report has found.

The study estimated the economic and financial cost of these conditions in Victoria in 2019 was $2.2 to $3 billion.

“There are significant costs across society – employers bore losses of $0.8 to $1.1 billion because of loss of productivity, and the state and federal government bore financial and economic burdens ranging between $0.8 to $1 billion,” the report said.

“This is largely due to lost productivity, leading to substantial reduction in future income streams and associated taxation revenues.”

However, this was not the total cost, as the research only counted the cost of high prevalence disorders such as anxiety, depression, suicide, suicide attempts and bereavement.

The report called for a mental health system to meet the needs of LGBTIQ+ Victorians.

LGBTIQ+ Victorians – who make up 10 per cent of the state’s population – bore the greatest costs of these poorer health outcomes, due to loss of wellbeing and years of life lost, the report added.
“When you look at the rates of anxiety, depression and suicide, the message is clear – LGBTIQ mental health is in crisis,” Thorne Harbour Health CEO Simon Ruth said.

The report called for investment in a mental health system which met the specific needs of LGBTIQ+ Victorians.

“We need to recognise that there are unique drivers for poorer mental health outcomes for LGBTIQ+ people that require targeted responses,” it said.

“Many of these unique drivers are societal and are based in values and norms that do damage from a very young age.”

Originally published as Poor mental health of LGBTIQ+ Victorians costs up to $3bn