Lord Henley disagreed, however, accusing Lord Jones of making comments that "smacked of protectionism".
Lord Jones is highly critical of the media, saying it is not interested in the positive news of business success.
Lord Jones stepped down as a government minister in Gordon Brown's reshuffle in October, saying it was not a judgement on Mr Brown's performance.
Lord Jones, a former CBI chief and trade minister in Gordon Brown's government, said Mr Miliband's speech had been "divisive and a kick in the teeth" for business.
Lord Jones has been involved in some controversy during his time in the job - notably when he expressed concerns about plans to tax "non-domiciled" foreigners in Britain.
Businessmen and women "would feel offended and see him as displaying poor statesmenship at a time when the country needs leaders, not players to a union gallery", Lord Jones said.
Lord Jones is a former Director General of the Confederation of British Industry and was appointed by Gordon Brown as a trade ambassador in the Department for Business in 2007.
Lord Jones' period as a minister proved colourful and at times controversial and Jonathan Baume, general secretary of the senior civil servants' union the FDA, said he was "disappointed but not surprised" at the latest comments given the ex-minister's "traditionally maverick approach".
Crossbencher Lord Digby Jones, a former trade minister under Gordon Brown, agreed with Lord Hoyle.
Lord Clement Jones, a peer close to the party leadership just rejected the Owen amendment.
The former head of the CBI, Lord Digby Jones, has criticised Coca-Cola over labelling that appears to condone taking unauthorised sick days.
The MP from Bath steered the bill through the House Of Commons on behalf of his Lib Dem colleague, Lord Clement Jones.
Lord Clement-Jones, one of the Lib Dems who tabled the amendment, welcomed the move.
But Lib Dem peer Lord Clement-Jones complained that Iraqi businessmen were having to travel to Amman, Jordan to apply for their visas.
BBC: Ministers updates peers on UK visa applications in Iraq
Earl Attlee said that he agreed "in principle" with Lord Clement-Jones.
BBC: Ministers updates peers on UK visa applications in Iraq
In a letter to S4C chairman Huw Jones, Lord Patten called for a management structure at S4C that "balances the principles of partnership with independence for the S4C service".
Lord Elis-Thomas, Elin Jones and Leanne Wood will attend a final campaign hustings in Neath on Thursday evening.
Later this week, she will meet First Minister Carwyn Jones and Welsh assembly Presiding Officer Lord Dafydd Elis-Thomas at the Senedd in Cardiff.
On the BBC Radio Wales Phone In, First Minister Carwyn Jones was asked whether he would welcome Lord Elis-Thomas to his party.
But the detail about Captain Jones giving all the credit to the Lord, while a small thing, suggests a writer interested in human stories, watching, remembering, and sticking around long enough to be generally hospitable to otherness.
Ceredigion AM Elin Jones has confirmed she will stand for the leadership and Lord Elis-Thomas, who led the party 20 years ago, has said he intends to be among the candidates.
"Simon Jones has still not fully recovered from the side injury he suffered at Lord's, but he is improving, " said Graveney.
Zeta Jones is also expected at the dinner, which is being hosted by Cardiff Lord Mayor Russell Goodway.
Mr Clarke ruled that letters Mr Jones sent him and First Minister Rhodri Morgan should be referred to the Attorney General Lord Goldsmith.
BBC: NEWS | UK | Wales | Advice sought on 'contempt' referral
England's seam bowling options for Lord's are already limited because of injuries to Andrew Flintoff (ankle), Simon Jones (knee) and James Anderson (back).
They are director of Liberty, Shami Chakrabarti, the former chief constable of the West Midlands Sir Paul Scott-Lee, former chairman of Ofcom Lord David Currie, former political editor of Channel 4 news Elinor Goodman, former Daily Telegraph political editor George Jones, and former FT chairman Sir David Bell.
BBC: Prime Minister David Cameron's statement on phone hacking
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