Invest in childhood by the Centre for Mental Health warns rates of mental health problems have risen significantly in recent years with a £1trn long-term cost in lost earnings.

Andy Bell, chief executive at Centre for Mental Health, said: ‘Mental health difficulties among children and young people are both common and serious. They cause deep distress for children and their families. They cast a long shadow over a child's life.

‘Preventing mental health problems is highly cost-effective. It saves money and lives. Our report identifies actions the Government can take now to shift towards prevention. From boosting health visiting and parenting programmes, to helping schools become mentally healthier places to learn, it can affect a sea change in the next generation's mental health. Investing in childhood is worth every penny.'

The report says a boost in the numbers of health visitors and school nurses will benefit babies, children and families for decades to come and says schools can provide a broad range of initiatives, from anti-bullying programmes to school-based counselling.

It says investment and reform are also needed in children's mental health services so they can provide timely, equitable and effective care for those who need them.