Academia Peston founded the economics department at
Queen Mary College, London, and advised various government departments and
Labour Secretaries of State from the 1960s through to the 1990s. He remained an Emeritus Professor of Economics at the College until his death in 2016.
House of Lords Peston was created a
life peer as
Baron Peston, of
Mile End, in
Greater London, on 24 March 1987. He immediately became Opposition Spokesperson for Energy (until 1997) and Education & Science (until 1997). He served as Opposition Spokesperson on the Treasury (1990–92) and Trade & Industry (1992–97). Lord Peston was a patron of the
British Humanist Association,{{cite web|url=https://humanism.org.uk/2016/04/25/bha-mourns-its-patron-lord-peston/|title=BHA mourns its patron, Lord Peston ==References==