Insulting City 'misers' is an own goal, says arts chief

THE man in charge of forging links between arts and business leapt to the defence of the City's "miserly" bankers today.

Colin Tweedy, chief executive of Arts and Business, said departing Southbank Centre head Michael Lynch was wrong to condemn London's wealthy for not giving enough to the arts.

The Australian yesterday dubbed bankers - such as those at Goldman Sachs who are to receive million-pound bonuses - "a bunch of bastards". He said corporate Britain let the side down when it failed to back the Southbank Centre's renovation.

But Mr Tweedy said: "To attack the City or sponsors when they're down is a major own goal." Many philanthropists worked for Goldman Sachs but gave anonymously, he said.

Mr Tweedy agreed not enough people made donations. "There are a lot who say, 'We pay taxes and there is government support for the arts, we choose other things to do with our money'," he said.

Investment in culture from business fell by seven per cent to £163million in the 12 months to March last year.