Tributes have been paid to him by colleagues in each the political and media world following the information of his dying.
His household mentioned he died “peacefully at dwelling” on Sunday.
“He was a a lot cherished husband, father, grandfather, brother, uncle, cousin, buddy and colleague,” they added in a press release.
Jay had been one of many nation’s foremost economics commentators, with time spent because the economics editor for each the BBC and The Instances.
He was controversially appointed because 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 overseas secretary on the time, mentioned in tribute: “Jim Callaghan didn’t hit it off with the sitting ambassador in Washington so it was apparent there needs to be a change.
“I used to be free to nominate somebody higher suited to the brand new Carter administration and significantly (Zbigniew) Bzezinski, his nationwide safety adviser.
“I selected on benefit Peter Jay and by no means had any trigger to remorse it, although I warned the prime minister the cost of nepotism would come up.
“Earlier than lengthy he was enjoying tennis frequently with Bzezinski, getting on effectively with the younger Georgians near the president and in each respect proved to be a superb ambassador.”
Mr Carter was from Georgia and had been governor of the state earlier than his presidency.
Present economics editor on the BBC, Faisal Islam, paid tribute to his predecessor in a publish on social media, saying he was “unhappy” to say Jay had handed away.
The journalist posted on X, previously Twitter: “Famously advised colleague certainly one of his complicated items was written for an viewers of three, & he wasn’t certainly one of them… in room with LBJ and Okun once they got here up with the definition of recession. Criticised the “bias towards 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 Commerce below Harold Wilson.
In 1961, he married Margaret Callaghan in a ceremony on the Crypt Chapel of the Home of Commons.
The couple stayed in Washington between 1977 and 1979.
They’d a son and two daughters collectively and separated in 1986.