Tributes paid to journalist who studied at Oxford University

Tributes have been paid to him by colleagues in both the political and media world following the news of his death.

According to the Churchill Archives Centre, Mr Jay attended the Dragon School in Oxford before moving to Winchester College.

He studied at Christ Church College in Oxford for university.

His family said he died “peacefully at home” on Sunday.

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“He was a much loved husband, father, grandfather, brother, uncle, cousin, friend and colleague,” they added in a statement.

Mr 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.

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.

Jay married Margaret Callaghan in 1961 (Image: PA) “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 three and 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'.

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“Diplomat. Broadcaster. RIP”.

Mr 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.

His mother, Peggy Jay, was a member of the Labour Party and was elected to London County Council and then served on Greater London Council.

In 1961, he married Margaret Callaghan in a ceremony at the Crypt Chapel of the House of Commons.

Mr Jay was involved in TV journalism at several points in his career, presenting the ITV series Weekend World, launching breakfast station TV-am after returning to Britain from the US.

After his time at the corporation, he became a non-executive director of the Bank of England in the 2000s.