Black people are significantly more likely to be held in secure mental health wards.
To back up the reforms, the party will commit to employing 10,000 more staff in NHS mental health services by 2020.
The study, launched to mark the beginning of Mental Health Awareness Week, lays bare the scale of people's experiences of mental health problems.
"How can we believe anything they say when they have made it clear today that they won't invest any more from extra taxation".
Almost three quarters of people living in the lowest household income bracket (less than £1,200 per month) say they have experienced a mental health problem compared to 59 per cent in the highest household income bracket (over £3,701 pm).
This year's Mental Health Awareness week theme is "Surviving to Thriving".
She said: "Under this government, there are 4,800 fewer mental health nurses and that goes some way to explaining why patients are being failed".
People in the lowest household income bracket (earning less than £1,200 per month) were much more likely to have experienced mental ill-health (73%) than those in the highest bracket of more than £3,701 a month ( 59%). We know that only a minority of people experiencing mental ill-health access professional support, which means that we need to redouble our efforts to prevent mental health problems from developing in the first place.
Zoe Ball's boyfriend Billy Yates found dead, aged 40
Police were called at 18:40 BST on Thursday to Mr Yates's flat in Putney, south London, where he was later pronounced dead. The 40-year-old cameraman's death was not 'suspicious, ' they said. 'It's devastating.
Part of the problem, according to Tory sources, is that mental health case law built up over the years is all based on the old legislation. The barometer of any nation is the health and happiness of its people.
That was in contrast to the opinion of workers who had experienced mental health problems, as under a fifth said they actually received such support.
It is also calling for a Royal Commission to investigate the solutions to prevent mental illness, with a focus on reducing risk, along with a report on the nation's mental health every year.
"It's therefore important that our workforce is equipped with the necessary support, knowledge and understanding of mental health and our joint Stamp out Stigma campaign provides a great foundation for this".
Large organisations would be required to have mental health first aid-trained staff on hand, in addition to the current requirement for physical health first aid training.
The organisation said 49% of women and 23% of men in prison are identified as suffering from both anxiety and depression, compared to 15% of the general population, while 20-30% of offenders have learning disabilities or difficulties that interfere with their ability to cope with the criminal justice system.
The 1983 Mental Health Act would be scrapped and replaced with new laws governing treatment, under Conservative plans for England and Wales.
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