Happiness index: any insights for £2 million?

There are two pieces of news emerging from the government's new happiness index that may slot neatly into the category of the blindingly obvious.

The first is that it found that we value things like our family, our health and our homes. The second is that the whole thing was a complete waste of time. So is there nothing we can take from this £2 million study? And if not, why is the government commissioning more work?