Chief Inspector of Constabulary Sir Tom Winsor said forces had mainly â€œdone wellâ€ with 20% cuts in the past four years, and more savings were likely.
Newly-knighted Sir Tom said a â€œsmaller serviceâ€ would have to â€œwork smarterâ€.
In December, the chief of the Met Police warned public safety would be at risk unless radical measures were taken to deal with funding cuts.
But speaking on BBC Radio 4â€™s The World This Weekend, Sir Tom said: â€œAusterity is here to stay.
â€œThe police have already made, and done it well in the main, cuts of 20% in the last four years and they are facing cuts of a further 5% next year.
â€œThere will inevitably be a time where they canâ€™t take any more but let us remember that measured crime has fallen dramatically â€“ but so have the demands made on the police.â€
Asked if there was room for further cuts, Sir Tom said: â€œIn some respects there are further efficiencies to be...
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