What Mr Miliband wants is 'responsible capitalism’. His father would have called that a contradiction in terms, wouldn’t he? 'Yes! But I believe capitalism is the least worst system we’ve got. I believe in the creativity of Blackberry [picking up his], or whatever. But I want it to be more decent, more humane, more fraternal.’ An employee should be on every remuneration committee. There is 'a strong case’ for making takeovers more difficult. He was attacked for his conference speech last year in which he divided businesses into 'predators and producers’, but 'I was definitely right’. It is ironic, says Mr Miliband, that Mrs Thatcher’s reforms, which attacked many vested interests, created new ones: they need to be taken on. There are too few banks, and six companies control 99 per cent of energy supply: 'This is about the free market working properly’. It just isn’t enough to deregulate the private sector. Wealth is created by 'the private sector working with government. We shouldn’t be ashamed of wanting an industrial policy.’ There are 'different capitalisms’ – Scandinavian as well as American.