At about 1.4 it's still pretty low compared to American cities. It's also not really "getting up there" as it appears to be on a relative decline lately.
The stats you link to a meaningless. The city of London don't set the budget for their police. That is a matter handled by the British goverment and according to them they've been decreasing it for 8-years straight.
> When compared with the previous year, overall funding for policing (including any in-year adjustments) for the financial year ending March 2023 will increase by 2.8% in real terms. This will be the eighth consecutive year in which policing funding has increased in real terms
There's probably some examples, but the US has such an outsized per-capita murder rate that it's not particularly comparable even when trying to select the best examples. If you stretch the definition of "major" and "comparable" then it's possible to find examples where they're somewhat similar but it requires a lot of stretching and is no longer representative. There's hundreds of cities in America with a murder rate higher than that of London. The US has a homicide rate approaching something like an order of magnitude higher than the UK (8/100k vs. 1/100k last I read).
UK is part of the European continent in terms of culture and geology. Perhaps you mean the EU, which is only part of Europe, instead of the continent itself.