Prime Minister David Cameron is launching a £2m project on how best to measure the happiness of the nation.

Mr Cameron argues that economic growth, along with other current tools for calculating how the UK is doing, does not give the full story.

He will announce today that from April the Office for National Statistics will start measuring factors such as income inequality, health and education levels and the environment.

Labour attempted to measure quality of life when it was in power but Prime Minister Tony Blair abandoned the plan.

Mr Cameron is due to say later today: "To those who say that all this sounds like a distraction from the serious business of government, I say finding out what will really improve lives and acting on it is the serious business of government."

And he will argue that the new measure of well-being will eventually "lead to government policy that is more focused not just on the bottom line, but on all those things that make life worthwhile".

The Argus will be going out into Brighton to ask people whether they are happy - and what they'd spend £2million on to achieve happiness.

Let us know what you think in the comments below.