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The conviction percentage does not tell the whole story. The police have had similar cuts to the CPS, and to cope with reduced manpower they filter out cases in which the evidence is not so strong. The result is that fewer cases come to court, and those that do tend to have a better chance of success. Who loses? Victims of crimes which in previous times would have been investigated with more persistence, and future victims of perpetrators who have escaped justice for the same reason.