Economic developments Flashcards
What did the Tudors not have?
A coherent economic policy; they reacted to events as they unfolded
What were governments influenced by?
The need to raise revenue to administer the country and by a desire to prevent disorder and look after their subjects’ welfare
When did governments intervene in economic affairs and what was the objective?
To rectify a problem
A short-term fix, not complete reform
How many statutes were passed to improve trade and industry, and to control labour relations and social welfare?
300
Who was expected to enforce the statutes but what was the case and what did this suggest?
JPs
Few cases were presented to JPs at a local level and fewer prosecutions were brought by the Crown
The Crown was more interested in its own fiscal welfare
Why were JPs reluctant to prosecute?
For fear of exacerbating unemployment and fomenting trouble
What was the government’s response to raising taxes?
To try to justify the need and to avoid making excessive or innovative demands
What did the Amicable Grant demonstrate?
The danger of trying to collect a non-parliamentary tax
What happened in 1536 and 1549?
Farmers expressed concern when rumours circulated that the government was planning to increase indirect taxation
What had medieval rulers been expected to do but what happened by the end of the period?
‘Live of their own’ to meet the costs of running the country and maintaining the royal household
No longer the case
What happened to the costs of the administration?
Doubled
What did Henry VII and his successors do?
Used parliamentary grants to pay for wars
Peacetime subsidies introduced in the 1530s
What did Henry VIII and Edward do?
Debased the coinage
Sold off Crown lands
Negotiated lands from continental bankers
What did Mary and Elizabeth do?
Cut back on expenditure
Made their administrations more efficient
Avoided wars for as long as possible
What did Elizabeth not attempt to do?
Reform the system of self-assessment whereby land, property, and goods were rated for tax and confirmed by JPs at levels below their value
Since 1547 what was the case?
MPs and peers had begun to revise their parliamentary assessments downwards
What was the case by 1558 and what happened in the 1570s?
The assessed landed income of nobles had fallen by 25%
Those rated at £100 or more were taxed at around 10%
What happened to William Cecil?
He had estates and goods rated at £133 a year that were valued at over £4000
What did the collision between landowners, merchants, nobles, and gentry ensure?
While the wealthy did pay taxes occasionally, there was never going to be any serious resistance or opposition