While you could argue there was a case against George (piss poor though it was) the only case against Stagg was one the police had deliberately and cynically manufactured.
Indeed. There
was a proactive targetting of Stagg, aimed at creating evidence, whereas there wasn't in the case of George, where there has never been any suggestion that any of the evidence found was invented or created in any way.
Not sure about the amounts concerned, however. There's lots of different angles, which are very different. Unlike serious injury awards, there is less damage to potential future earning ability. In terms of actual, physical damage, there is loss of liberty and all the stresses of the prosecution period but, in terms of value, I don't think that would get anywhere near the top of the tree. Taking a "damage to reputation" type approach (as in libel cases), that is more understandable and comparable.
If you take the view that damages should put someone back where they would have been had the thing not happened, would he now have a lump sum of £700k (or be in an equivalent situation)? I doubt that very much, even taking a generous view of what he would have done with his life.
There's an angle that damages should include punitive damage for malicious actions ... but should those damages go to the victim as an additional windfall? (That is a general question, rather than specific to this case) And, in any event I don't think that applies here anyway as this is straightforward State compensation rather than the outcome of a civil case as such (which is why he is now talking about suing the MPS, where that would apply).
There should clearly be a very significant award ... but £700k? Not sure (as, it appears, neither is Stagg himself!)