As few as 29,000 serial criminals are ­responsible for 130,000 crimes a year, costing an estimated £5 billion, a study claims.

Researchers found prolific criminals racked up the equivalent of £172,000 each in public funds, with money spent on prison, as well as treating injuries, mental ill health and addiction.

The study, the first of its kind, by the consultancy Newton Europe and the charity Revolving Doors, looked at offenders convicted of eight or more crimes, many of whom had served sentences of less than a year for crimes ranging from shoplifting to assault.

Researchers also tried to measure the impact of crime on public services for the first time, including the NHS, councils and social services, as well as the cost to businesses from stolen goods and violence to staff.

The research, which was unveiled at the Labour Party conference, also found that shoplifting was at a record high. Police recorded more than 530,000 offences in England and Wales over the year to March, up 19 per cent on the previous year, or three thefts per minute.