More cuts '˜could hit cultural power houses'

Funding to the National Theatre, Southbank Centre, Royal Opera House and Royal Shakespeare Company have fallen as part of a new settlement from Arts Council England, which increases cash for the regions.

But the entrepreneur and philanthropist, Lloyd Dorfman, whose recent gifts have totalled around £10m to the Royal Academy, Great Ormond Street Hospital, the Royal Opera House and others, said there was a need to “be careful” about slicing away more cash.

He added that philanthropists were “nervous” in the current period of uncertainty.

Mr Dorfman, the founder of the Travelex Group, said: “The Arts Council said the four big ones can sustain this impact more easily than others, and yes that’s true.

“But there’s only so far they can go. I think everyone has taken it on the chin and it’s great that the regions are getting increased support. But I would think governments should be careful not to wound the power houses of British and London culture by continuing to slice away at their financial support.”

The size of Mr Dorfman’s the gift to the Royal Academy was not revealed but was described as a “seven-figure” sum.