George May, 1st Baron May
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George Ernest May, 1st Baron May KBE
(20 June 1871 – 10 April 1946), known as Sir George May, 1st Baronet, from 1931 to 1945, was a British
financial expert and public servant.
May was the younger son of William May, a grocer and wine merchant, of Cheshunt
, Hertfordshire
, and his wife Julia Ann (née Mole), and was educated at Cranleigh School
. At the age of 16 he joined the Prudential Assurance Company as a clerk. He was to remain with this firm until his retirement in 1931, and served as Secretary of the company from 1915 until 1931. May quickly made his mark as a financial expert and during the First World War he was Manager of the American Dollars Securities Committee from 1915 to 1918. This committee was set up by the government to oversee the collection of securities
held by British firms in the United States
, and to make them available to the British government in aid of the war effort. For his services May was made a KBE
in 1918.
He was created a Baronet, of the Eyot, in 1931, and the same year, after his retirement as Secretary of the Prudential Assurance Company, he was appointed by the Chancellor of the Exchequer
Philip Snowden
to oversee a committee on national expenditure. The committee recommended savings of £96½ million for the next financial year, a figure that was supported by the Conservative
and Liberal
parties but largely criticized by the Labour Party
, as much of the cuts were to come from unemployment benefits and national health insurance.
In early 1932 May was appointed Chairman of the Import Duties Advisory Committee by the new Chancellor, Neville Chamberlain
. The committee oversaw the introduction and implementation of a general tariff over the next three years. As one of three members on the committee (along with Sir Sydney Chapman and Sir Allan Powell), May was specifically responsible for overseeing the reorganization of the British iron and steel industry. The committee's activities were largely suspended after the outbreak of the Second World War, but May remained Chairman until 1941. He had been further honoured in 1935 when he was raised to the peerage as Baron May, of Weybridge in the County of Surrey.
Lord May married Lily Julia, daughter of Gustavus Strauss, in 1903. They had two sons and a daughter. He died in April 1946 and was succeeded in the barony by his eldest son John. Lady May died in 1955.
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
(20 June 1871 – 10 April 1946), known as Sir George May, 1st Baronet, from 1931 to 1945, was a British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
financial expert and public servant.
May was the younger son of William May, a grocer and wine merchant, of Cheshunt
Cheshunt
Cheshunt is a town in Hertfordshire, England with a population of around 52,000 according to the United Kingdom's 2001 Census. It is a dormitory town and part of the Greater London Urban Area and London commuter belt served by Cheshunt railway station...
, Hertfordshire
Hertfordshire
Hertfordshire is a ceremonial and non-metropolitan county in the East region of England. The county town is Hertford.The county is one of the Home Counties and lies inland, bordered by Greater London , Buckinghamshire , Bedfordshire , Cambridgeshire and...
, and his wife Julia Ann (née Mole), and was educated at Cranleigh School
Cranleigh School
Cranleigh School is an independent English boarding school in the village of Cranleigh, Surrey. It was founded in 1865 as a boys' school and started to admit girls in the early 1970s. It is now co-educational. The current headmaster is Guy de W...
. At the age of 16 he joined the Prudential Assurance Company as a clerk. He was to remain with this firm until his retirement in 1931, and served as Secretary of the company from 1915 until 1931. May quickly made his mark as a financial expert and during the First World War he was Manager of the American Dollars Securities Committee from 1915 to 1918. This committee was set up by the government to oversee the collection of securities
Security (finance)
A security is generally a fungible, negotiable financial instrument representing financial value. Securities are broadly categorized into:* debt securities ,* equity securities, e.g., common stocks; and,...
held by British firms in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, and to make them available to the British government in aid of the war effort. For his services May was made a KBE
Order of the British Empire
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by George V of the United Kingdom. The Order comprises five classes in civil and military divisions...
in 1918.
He was created a Baronet, of the Eyot, in 1931, and the same year, after his retirement as Secretary of the Prudential Assurance Company, he was appointed by the Chancellor of the Exchequer
Chancellor of the Exchequer
The Chancellor of the Exchequer is the title held by the British Cabinet minister who is responsible for all economic and financial matters. Often simply called the Chancellor, the office-holder controls HM Treasury and plays a role akin to the posts of Minister of Finance or Secretary of the...
Philip Snowden
Philip Snowden, 1st Viscount Snowden
Philip Snowden, 1st Viscount Snowden PC was a British politician and the first Labour Chancellor of the Exchequer, a position he held in 1924 and again between 1929 and 1931.-Early life: 1864–1906:...
to oversee a committee on national expenditure. The committee recommended savings of £96½ million for the next financial year, a figure that was supported by the Conservative
Conservative Party (UK)
The Conservative Party, formally the Conservative and Unionist Party, is a centre-right political party in the United Kingdom that adheres to the philosophies of conservatism and British unionism. It is the largest political party in the UK, and is currently the largest single party in the House...
and Liberal
Liberal Party (UK)
The Liberal Party was one of the two major political parties of the United Kingdom during the 19th and early 20th centuries. It was a third party of negligible importance throughout the latter half of the 20th Century, before merging with the Social Democratic Party in 1988 to form the present day...
parties but largely criticized by the 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...
, as much of the cuts were to come from unemployment benefits and national health insurance.
In early 1932 May was appointed Chairman of the Import Duties Advisory Committee by the new Chancellor, Neville Chamberlain
Neville Chamberlain
Arthur Neville Chamberlain FRS was a British Conservative politician who served as Prime Minister of the United Kingdom from May 1937 to May 1940. Chamberlain is best known for his appeasement foreign policy, and in particular for his signing of the Munich Agreement in 1938, conceding the...
. The committee oversaw the introduction and implementation of a general tariff over the next three years. As one of three members on the committee (along with Sir Sydney Chapman and Sir Allan Powell), May was specifically responsible for overseeing the reorganization of the British iron and steel industry. The committee's activities were largely suspended after the outbreak of the Second World War, but May remained Chairman until 1941. He had been further honoured in 1935 when he was raised to the peerage as Baron May, of Weybridge in the County of Surrey.
Lord May married Lily Julia, daughter of Gustavus Strauss, in 1903. They had two sons and a daughter. He died in April 1946 and was succeeded in the barony by his eldest son John. Lady May died in 1955.