If you withdraw your statement the police (and, probably more importantly, the Crown Prosecution Service) will take an interest in your reasons. If you say that the incident never occurred you'll risk prosecution for wasting police time. If you indicate that the incident did occur, but that you're not prepared to give evidence in relation to it, you risk prosecution for attempting to pervert the course of justice.
While this link refers to a far more serious offence, it does show that the courts expect people to stand by their statements, or risk being prosecuted if they don't:
http://www.bbc.co.uk/...es-mid-wales-11707903
Chris