Network Rail boss Mark Carne: 'We must re-set expectations'

Modernisation projects on Britain's rail network will "take longer and cost more than originally thought", the CEO of Network Rail has warned.

Mark Carne's comments came as Transport Secretary Patrick McLoughlin announced plans to delay or cut back a number of planned projects, saying rising costs and missed targets had made the £38.5bn plan untenable.

Mr Carne told the BBC's Business Editor Kamal Ahmed that while the railway was "more reliable than it's ever been", there was a need to "re-set expectations around what we can deliver."