2.5 Financial Weaknesses

Question 1

Privy council sources of income:

Answer 1

Rent or sale of crown lands
Fines given by judges
Customs duties on imports

Question 2

What would the crown do if they needed extra money, usually to fund a war?

Answer 2

They had to ask the Parliament to approve taxation

Question 3

What caused a strain on finances in 1558? How much debt was Elizabeth in?

Answer 3

War with France- Elizabeth had a debt of £300,000

Question 4

How much were the crown lands sold off for?

Answer 4

£600,000. This gave them a reserve of £300,000