It’s the reason the Royal Commission recommended the introduction of a new revenue mechanism to protect the long-term funding and future of our mental health system.
By introducing a dedicated stream of funding for mental health, we can continue to improve our mental health system and protect this reform well into the future.
Mental Health and Wellbeing Levy
A Mental Health and Wellbeing Levy will apply to businesses with more than $10 million in wages nationally, less than 5% of employers, from 1 January 2022.
Revenue collected from the Levy can only be invested in improving our mental health system.
Businesses will also see the benefits of our investment, with mental illness a massive and ongoing cost to our economy.
The Royal Commission’s interim report estimated that the economic cost of poor mental health to Victoria was $14.2 billion each year. This included a cost of $1.9 billion a year to employers – with $1.6 billion in lost productivity and $300 million due to workplace injuries.
Our investments in targeted programs focused on prevention and early intervention will also help more people participate in work – taking fewer sick days, and being their best at work.
It’s why this generational reform matters so very much.
Rebuilding our mental health system will change lives, save lives – and help our state truly recover.
Housing for Victorians living with mental illness
Last year, we were reminded of how much home matters. For many Victorians, it provides the stable foundation they need as they recover from mental illness.
The 2020/21 Budget funded the Big Housing Build to deliver 9,300 new social housing homes – including 2,000 for Victorians living with mental illness.
Now, this Budget provides $46 million so Victorians housed through the Big Housing Build have the mental health and wellbeing support they need to recover. This includes funding to co‑design and plan for a further 500 housing places for young people living with mental illness.
Reviewed 20 May 2021