Heidi Alexander says billions wasted in ‘litany of failure’, amid speculation cost will now exceed £100bnTimeline: 16 years of high hopes and bruising realityBusiness live – latest updatesThe high-speed rail network HS2 cannot be delivered on its current schedule and budget and will be delayed beyond 2033, the government has admitted, blaming mismanagement by the previous Conservative administration for schedule and cost overruns.The transport secretary, Heidi Alexander, said in parliament there was “no reasonable way to deliver” on the 2033 target for the first trains to run between London and Birmingham, after receiving a bleak assessment from the new HS2 Ltd chief executive, Mark Wild. Continue reading...