So, sixteen months of headlines, the PM and his closest circle arrested, politics in Britain dragged through the mud and what? A file goes to the CPS and...no further action. What on earth is going on? The only possible reason to drag this process out, spending over a million pounds and interviewing 136 people was if the investigation was going somewhere. No-one with the slightest sense of the public interest would inflict so much damage on our institutions unless they were utterly confident that someone would end up in the dock charged with something serious. This leads to exactly two scenarios: either Assistant Commissioner John Yates had made very serious error of judgement in continuing an investigation when there was little prospect of a resulting prosecution or the CPS have refused to prosecute despite the police making a good case.
Now Sir Ian Blair, the Metropolitan Police Commissioner, has been ordered to produce a report into the way the honours investigation was carried out. Too right.