Yes it will. If he is not guilty the Police, CPS and most likely the Government can expect a very rocky ride. Despite the fact I hate the man, they may well have picked on the wrong one there so they had better be dead sure of their case.
I know someone who was arrested for 'apparently' fitting a description. He had numerous witnesses to vouch that he wasn't even in the same town that the crime was committed. He could have got a statement from his boss...cctv cameras from the shop he was in but not once did the police check.
They just kept rebailing him (by phone) while they went on holiday, had time off and had other things to do.