Michael Lynch, the outgoing chief executive of the Southbank Centre, kicked up a storm last week when he used forthright language to criticise the City for not doing enough for the arts.

Judging from behind the scenes whispering, there is a lot of support for the sentiment, it's just most cultural leaders cannot afford to say likewise. He can, not just because he’s a straight-talking Aussie but because he is not staying in Britain to work.

Mr Lynch will no longer have to court the City boys for their cash which is why he can lambast them so rudely.

Britain’s rich - with some notable exceptions like Dame Vivien Duffield and Lord Sainsbury - just do not give to good causes to the degree found in many other countries, such as America.

And this bodes badly for colleagues such as the Tate’s Nicholas Serota and Neil MacGregor at the British Museumwho have their own development plans.

Mr Lynch admits he hopes his pessimism proves to be wrong. If anyone can make big schemes work it is Serota and MacGregor.

But more philantropists are certainly required - and have not really emerged despite record numbers of millionaires.

Part of the problem lies in tax breaks and the Treasury knows the arguments on how to make it easier for people to give.

But there are incentives for those who want to use them.

The main existing incentive is gift aid where donations of cash or shares to charity can be offset against income tax. But many wealthy people have bought artwork in recent years and - if these are important enough - there are incentives to sell to a museum under a private treaty by which the owner can offset capital gains tax.

The issue is whether there is the will - and goodwill - to use them.

It is notable that some of the biggest exceptions to the misers in the City come from the different philanthropic tradition of America, like John Studzinski, the banker who gave £5 million to kickstart the Tate Modern extension campaign.

But it is business itself that is failing to set an example to its staff. Latest evidence from the Arts and Business organisation shows it is corporate giving that has really slumped.

Colin Tweedy, the head of Arts and Business, thinks abusing the City is no route to greater giving and of course it is true that there are individuals and companies that do play their part.

But it is hard to believe that those who did not donate when they were raking it in will be deterred from doing so now by a little bit of abuse from Michael Lynch.

And it is in the City's long-term interest to step up to the mark. According to a recent report, Cities: The Destination Identity, the arts are the most important factor for senior business people wanting to work in London.

Michael Lynch gave his all to this city, transforming the Southbank site that had long proved troublesome.

It would now be good if more of our wealthier native citizens stepped up to the mark to do something equally long-lasting.