Taylor Wimpey downsizes to succeed

Pete Redfern, chief executive of Taylor Wimpey, the UK's largest house builder by sales, says he takes responsibility for the rough ride he gave shareholders in the recession. Since then, however, the company has streamlined its operations and is looking in much better shape. Ed Hammond, construction reporter, talks to the FT's Seb Morton-Clark about how the company has pulled itself from the brink and what Mr Redfern's strategy says about the UK housing market.