BBC journalist and diplomat Peter Jay dubbed ‘the cleverest young man in England’ dies ‘peacefully at home’ aged 87
FORMER economic journalist and diplomat Peter Jay - once dubbed the "cleverest young man in England" - has died at the age of 87, his family has announced.
Tributes have been paid to him by colleagues in both the political and media world following the news of his death.
His family said he died "peacefully at home" in Woodstock, Oxfordshire, on Sunday.
"He was a much-loved husband, father, grandfather, brother, uncle, cousin, friend and colleague," they added in a statement.
Jay had been one of the country's foremost economics commentators, with time spent as the economics editor for both the BBC and The Times.
A sub-editor once complained that his writing was too difficult to understand to which Jay replied: "I only write this for three people: the editor of the Times, the Chancellor of the Exchequer and the Governor of the Bank of England."
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He was controversially appointed as the UK's ambassador to Washington in 1977 by his then father-in-law James Callaghan, who was prime minister, amid Tory protests of "nepotism".
Lord Owen, who was foreign secretary at the time, said in tribute: "Jim Callaghan did not get on well with the sitting ambassador in Washington so it was obvious there should be a change.
"I was free to appoint someone better suited to the new Carter administration and particularly (Zbigniew) Bzezinski, his national security adviser.
"I chose on merit Peter Jay and never had any cause to regret it, though I warned the prime minister the charge of nepotism would arise.
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"Before long he was playing tennis regularly with Bzezinski, getting on well with the young Georgians close to the president and in every respect proved to be an excellent ambassador."
Mr Carter was from Georgia and had been governor of the state before his presidency.
Current economics editor at the BBC, Faisal Islam, paid tribute to his predecessor in a post on social media, saying he was "sad" to say Jay had passed away.
The journalist posted on X, formerly Twitter: "Famously told colleague one of his complex pieces was written for an audience of 3, & he wasn't one of them... in room with LBJ and Okun when they came up with the definition of recession. Criticised the 'bias against understanding'.
"Diplomat. Broadcaster. RIP."
Jay was born in February 1937 and was the son of Baron Jay who as Douglas Jay was president of the Board of Trade under Harold Wilson.
He was educated at the Dragon School in Oxford before going on to study at Winchester like his father and grandfather had done before him.
Jay was famously described at school as "the cleverest young man in England".
To which someone cheekily replied: "Is there someone cleverer in Wales?"
After completing national service in the Royal Navy, he attended Oxford University where graduated with a first-class honours degree in politics, philosophy and economics.
In 1961, he married Margaret Callaghan in a ceremony at the Crypt Chapel of the House of Commons.
Jay unsuccessfully tried to enter politics for the 1970 General Election but failed to be selected as Labour's candidate for Islington South West.
Instead, he secured a job at the treasury before accepting the position of economics editor at The Times.
He wrote columns about "monetarism" which became future PM Margaret Thatcher's underlying philosophy.
Jay and Margaret lived in Washington between 1977 and 1979.
However, the scandal hit when she had an affair during this period with Watergate journalist Carl Bernstein, which inspired the film Heartburn starring Jack Nicholson and Meryl Streep.
The couple had a son and two daughters together and separated in 1986 and in the same year, he married Emma Bettina.
They had three children.
Also in 1986 Jay became media mogul Robert Maxwell's chief of staff before returning to broadcast journalism as the BBC's economics editor until 2001.
Between 2003 and 2009 he was a non-executive director of the Bank of England.
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He also served as a councillor on Woodstock Town Council, and was Mayor in 2010.
Jay had a total of seven children.