CEO Update from Mental Health Australia: Dollars and sense

Dollars and sense

In its interim report released this week, the Chair of the Select Committee on Cost of Living noted that people struggle to cover life’s basics, such as housing, health care and food. This week, we also saw the Reserve Bank of Australia raise interest rates again, adding to the spiralling costs of living. 

These pressures are impacting all of us. The Consumer Action Law Centre reports that a new demographic of fully employed people, who had never experienced financial problems before, are now phoning the National Debt Helpline. Lifeline is also reporting that up to 80 per cent of its calls now relate to cost-of-living pressures. 

There is good evidence to show the importance of financial security for our mental health. During the pandemic, one of the Government’s most effective mental health interventions was its increased financial support for many in the community. The need for financial security is no less now than at the height of the pandemic.  

There are many important priorities and pressures on the Government in its upcoming budget. Ensuring that we all have enough to cover the basics and can access support for our mental health when we need it, must be at the top of the agenda. We need to both respond to the immediate pressures impacting our mental health, and have a funded, long-term reform roadmap, that delivers generational improvements in our collective mental health.  

Next week, with the Budget being handed down, Mental Health Australia will be working into the night to provide our analysis to our members late on Tuesday night. Later next week we will have Assistant Minister Emma McBride and the Department of Health and Aged Care brief our members. We hope that there will be plenty to discuss. 

Carolyn Nikoloski
CEO, Mental Health Australia

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