Jones was born in Merthyr Tydfil, Wales, in 1911. He was educated at the London School of Economics. He served on the foreign and editorial staffs of "The Times", 1937-39 and 1947-48. He worked for the Army Intelligence Staff, War Office and Mediterranean Theatre, 1940-46.

He contested the Parliamentary seats of South East Essex in the General Election, 1945, and Heywood and Radcliffe (by-election), 1946. He was elected as the Unionist MP for Birmingham, Hall Green, 1950-65.

Jones served as Parliamentary Private Secretary to Minister of State for Economic Affairs, 1952, and to Minister of Materials, 1953. He was appointed Minister of Fuel and Power, December 1955-January 1957 and Minister of Supply, 1957-October 1959.

He joined the British Iron and Steel Federation, 1949, acting as its General Director, June-December 1955. He was a member of the Plowden Cttee of Inquiry into Aircraft Industry, 1965-66; the Chairman (inter alia) of Staveley Industries Ltd, 1964-65; a Director of Guest, Keen & Nettlefolds Steel Company Limited, 1960-65; Courtaulds Ltd, 1960-63; and Black & Decker, 1977-81. He was appointed Chairman of the Prices and Incomes Board, 1965-70; and Vice-President, Consumers’ Association, 1967-72.

He acted as a leading consultant to, among others, the Iranian Government, 1974-78, and Plessey Ltd, 1978-80.

He published, "The Pendulum of Politics" 1946; "Industrial Order", 1950; "The New Inflation: the politics of prices and incomes", 1973; (ed) "Economics and Equality", 1976; (contrib.) "My LSE", 1977; (contrib.) "The End of the Keynesian Era", 1977; "Oil: the missed opportunity", 1981; and "Britain’s Economy: the roots of stagnation", 1985.

Jones died in April 2003.