Peter Jay
Encyclopedia
Peter Jay is a British economist, broadcaster and diplomat.
and Peggy Jay
, both of whom were Labour Party
politicians. He was educated at The Dragon School
, Oxford (the alma mater of several senior Labour politicians, including Hugh Gaitskell
), followed by Winchester College
(where he was head boy
) and Christ Church, Oxford
, where he graduated with a first class honours degree in PPE. He was commissioned in the Royal Navy
, then worked as a civil servant at HM Treasury
before becoming a journalist
and, for 10 years, economics editor with The Times
.
Jay is the former husband of Margaret Jay
, whom he married in 1961 and divorced in 1986. His friend Dr David Owen
, Foreign Secretary in the government of Jay's father-in-law, James Callaghan
, appointed him UK Ambassador
to the United States
(1977-1979), an appointment that caused some controversy and accusations of nepotism
.
Sunday news analysis programme Weekend World
. In 1972, Jay co-authored, with his friend John Birt
, a series of articles for The Times where they criticised standard television journalism and developed what came to be called their "mission to explain".
Jay subsequently returned to journalism in Britain but was initially most visible as leader of a consortium of high-profile media figures, including David Frost
and Anna Ford
, who won the licence for an idea that did not work according to its business plan: he was founding chairman of TV-am
, the breakfast TV station launched by the consortium, where the initial focus on news and current affairs did not yield economic success for the company (the first to broadcast outside traditional broadcasting hours in Britain). The station was rescued after a coup that involved Jonathan Aitken
and by the more down-market Roland Rat
character introduced by Greg Dyke
, whose success there helped him build his credibility to become Director-General of the BBC
.
Peter Jay's career took a surprising turn when he became Chief of Staff to Robert Maxwell
during his most high-profile and controversial years. Margaret Jay led Maxwell's Aids Foundation around the same time, where she met her present husband professor Mike Adler. Like so many who worked for Maxwell, this left no stain on their subsequent careers.
Peter Jay returned to highbrow journalism and became Economics Editor of the BBC, specially appointed by John Birt, and presented editions of The Money Programme
. His appearances on screen with explanations of major economic and business issues showed his intellectual grasp but could sometimes baffle his peak-time news audience. After his retirement, this task was handled by his successors (separately for economics and business) in a rather simpler and arguably more lucid way, with more visual illustration. Jay wrote a book, The Road to Riches or the Wealth of Man (2000, Weidenfeld & Nicholson), exploring the history of man's search for wealth, and presented a related BBC TV documentary series.
Jay is a supporter of Keynesian economics
. He has debated economists Milton Friedman
and Thomas Sowell
.
He has been a non-executive director of the Bank of England
since 2003. He has been a governor of the Ditchley Foundation
since 1982.
He is a councillor on Woodstock Town Council and the Mayor of Woodstock 2009/10
Background
Peter Jay is the son of DouglasDouglas Jay, Baron Jay
Douglas Patrick Thomas Jay, Baron Jay, PC was a British Labour Party politician.Educated at Winchester College and New College, Oxford, Jay became a Fellow of All Souls between 1930 and 1937...
and Peggy Jay
Peggy Jay
Margaret Christian "Peggy" Garnett Jay was an English Labour councillor.As a young girl, Peggy Garnett attended St Paul's Girls' School in London, where she befriended Shiela Grant Duff. In 1931, she went up to Somerville College, Oxford, but she left two years later to marry Douglas Jay...
, both of whom were Labour Party
Labour Party (UK)
The Labour Party is a centre-left democratic socialist party in the United Kingdom. It surpassed the Liberal Party in general elections during the early 1920s, forming minority governments under Ramsay MacDonald in 1924 and 1929-1931. The party was in a wartime coalition from 1940 to 1945, after...
politicians. He was educated at The Dragon School
Dragon School
The Dragon School is a British coeducational, preparatory school in the city of Oxford, founded in 1877 as the Oxford Preparatory School, or OPS. It is primarily known as a boarding school, although it also takes day pupils...
, Oxford (the alma mater of several senior Labour politicians, including Hugh Gaitskell
Hugh Gaitskell
Hugh Todd Naylor Gaitskell CBE was a British Labour politician, who held Cabinet office in Clement Attlee's governments, and was the Leader of the Labour Party and Leader of the Opposition from 1955, until his death in 1963.-Early life:He was born in Kensington, London, the third and youngest...
), followed by Winchester College
Winchester College
Winchester College is an independent school for boys in the British public school tradition, situated in Winchester, Hampshire, the former capital of England. It has existed in its present location for over 600 years and claims the longest unbroken history of any school in England...
(where he was head boy
Head boy
Head Boy and Head Girl are terms commonly used in the British education system, and in private schools throughout the Commonwealth.-United Kingdom:...
) and Christ Church, Oxford
Christ Church, Oxford
Christ Church or house of Christ, and thus sometimes known as The House), is one of the largest constituent colleges of the University of Oxford in England...
, where he graduated with a first class honours degree in PPE. He was commissioned in the Royal Navy
Royal Navy
The Royal Navy is the naval warfare service branch of the British Armed Forces. Founded in the 16th century, it is the oldest service branch and is known as the Senior Service...
, then worked as a civil servant at HM Treasury
HM Treasury
HM Treasury, in full Her Majesty's Treasury, informally The Treasury, is the United Kingdom government department responsible for developing and executing the British government's public finance policy and economic policy...
before becoming a journalist
Journalist
A journalist collects and distributes news and other information. A journalist's work is referred to as journalism.A reporter is a type of journalist who researchs, writes, and reports on information to be presented in mass media, including print media , electronic media , and digital media A...
and, for 10 years, economics editor with The Times
The Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...
.
Jay is the former husband of Margaret Jay
Margaret Jay, Baroness Jay of Paddington
Margaret Ann Jay, Baroness Jay of Paddington, PC is a British politician for the Labour Party.-Background:Her father was former Labour Prime Minister James Callaghan, and she was educated at Blackheath High School, Blackheath and Somerville College, Oxford.Between 1965 and 1977 she held production...
, whom he married in 1961 and divorced in 1986. His friend Dr David Owen
David Owen
David Anthony Llewellyn Owen, Baron Owen CH PC FRCP is a British politician.Owen served as British Foreign Secretary from 1977 to 1979, the youngest person in over forty years to hold the post; he co-authored the failed Vance-Owen and Owen-Stoltenberg peace plans offered during the Bosnian War...
, Foreign Secretary in the government of Jay's father-in-law, James Callaghan
James Callaghan
Leonard James Callaghan, Baron Callaghan of Cardiff, KG, PC , was a British Labour politician, who was Prime Minister of the United Kingdom from 1976 to 1979 and Leader of the Labour Party from 1976 to 1980...
, appointed him UK Ambassador
Ambassador
An ambassador is the highest ranking diplomat who represents a nation and is usually accredited to a foreign sovereign or government, or to an international organization....
to the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
(1977-1979), an appointment that caused some controversy and accusations of nepotism
Nepotism
Nepotism is favoritism granted to relatives regardless of merit. The word nepotism is from the Latin word nepos, nepotis , from which modern Romanian nepot and Italian nipote, "nephew" or "grandchild" are also descended....
.
Career
In the early 1970s, Jay was the principal presenter of the London Weekend TelevisionLondon Weekend Television
London Weekend Television was the name of the ITV network franchise holder for Greater London and the Home Counties including south Suffolk, middle and east Hampshire, Oxfordshire, south Bedfordshire, south Northamptonshire, parts of Herefordshire & Worcestershire, Warwickshire, east Dorset and...
Sunday news analysis programme Weekend World
Weekend World
Weekend World is a British television political series, made by London Weekend Television and broadcast from 1972 to 1988.Created by John Birt not long after he moved to LWT, the series was broadcast on the ITV network at lunchtimes on Sundays...
. In 1972, Jay co-authored, with his friend John Birt
John Birt, Baron Birt
John Birt, Baron Birt is a former Director-General of the BBC who was in the post from 1992 to 2000.After a successful career in commercial television, first at Granada and then at LWT, Birt was brought in as deputy director-general of the BBC in 1987 for his current affairs expertise...
, a series of articles for The Times where they criticised standard television journalism and developed what came to be called their "mission to explain".
Jay subsequently returned to journalism in Britain but was initially most visible as leader of a consortium of high-profile media figures, including David Frost
David Frost
Sir David Frost is a British broadcaster.David Frost may also refer to:*David Frost , South African golfer*David Frost , classical record producer*David Frost *Dave Frost, baseball pitcher...
and Anna Ford
Anna Ford
Anna Ford is a retired English journalist and television presenter, best known as a newsreader....
, who won the licence for an idea that did not work according to its business plan: he was founding chairman of TV-am
TV-am
TV-am was a breakfast television station that broadcast to the United Kingdom from 1 February 1983 to 31 December 1992. It made history by being the first national operator of a commercial television franchise at breakfast-time , and broadcast every day of the week for most or all of the period...
, the breakfast TV station launched by the consortium, where the initial focus on news and current affairs did not yield economic success for the company (the first to broadcast outside traditional broadcasting hours in Britain). The station was rescued after a coup that involved Jonathan Aitken
Jonathan Aitken
Jonathan William Patrick Aitken is a former Conservative Member of Parliament in the United Kingdom, and British government minister. He was convicted of perjury in 1999 and received an 18-month prison sentence, of which he served seven months...
and by the more down-market Roland Rat
Roland Rat
Roland Rat is a British television puppet character. He was created, operated and voiced by David Claridge, who had previously been behind the Mooncat puppet in the Children's ITV television programme Get Up and Go! David worked for Jim Henson, then the second series of The Young Ones...
character introduced by Greg Dyke
Greg Dyke
Gregory "Greg" Dyke is a British media executive, journalist and broadcaster. Since the 1960s, Dyke has a long career in the UK in print and then broadcast journalism. He is credited with introducing 'tabloid' television to British broadcasting, and reviving the ratings of TV-am...
, whose success there helped him build his credibility to become Director-General of the BBC
BBC
The British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff...
.
Peter Jay's career took a surprising turn when he became Chief of Staff to Robert Maxwell
Robert Maxwell
Ian Robert Maxwell MC was a Czechoslovakian-born British media proprietor and former Member of Parliament , who rose from poverty to build an extensive publishing empire...
during his most high-profile and controversial years. Margaret Jay led Maxwell's Aids Foundation around the same time, where she met her present husband professor Mike Adler. Like so many who worked for Maxwell, this left no stain on their subsequent careers.
Peter Jay returned to highbrow journalism and became Economics Editor of the BBC, specially appointed by John Birt, and presented editions of The Money Programme
The Money Programme
The Money Programme is a finance and business affairs television programme on BBC2.It was first broadcast on 5 April 1966 and presented by "commentators" William Davis, Erskine Childers and Joe Roeber. At this time David Attenborough was the controller of BBC2...
. His appearances on screen with explanations of major economic and business issues showed his intellectual grasp but could sometimes baffle his peak-time news audience. After his retirement, this task was handled by his successors (separately for economics and business) in a rather simpler and arguably more lucid way, with more visual illustration. Jay wrote a book, The Road to Riches or the Wealth of Man (2000, Weidenfeld & Nicholson), exploring the history of man's search for wealth, and presented a related BBC TV documentary series.
Jay is a supporter of Keynesian economics
Keynesian economics
Keynesian economics is a school of macroeconomic thought based on the ideas of 20th-century English economist John Maynard Keynes.Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and, therefore, advocates active policy responses by the...
. He has debated economists Milton Friedman
Milton Friedman
Milton Friedman was an American economist, statistician, academic, and author who taught at the University of Chicago for more than three decades...
and Thomas Sowell
Thomas Sowell
Thomas Sowell is an American economist, social theorist, political philosopher, and author. A National Humanities Medal winner, he advocates laissez-faire economics and writes from a libertarian perspective...
.
He has been a non-executive director of the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...
since 2003. He has been a governor of the Ditchley Foundation
Ditchley Foundation
The Ditchley Foundation is a British organisation based at Ditchley House near Chipping Norton, Oxfordshire, which aims to promote international relations, especially Anglo-American relations, through a programme of around fifteen annual conferences on matters of international interest...
since 1982.
He is a councillor on Woodstock Town Council and the Mayor of Woodstock 2009/10