economic policy Flashcards
1
Q
how bankrupt was england by the end of somersets reign
A
spent £1,356,000 on scottish war
2
Q
what tax did someret impose on sheep?
A
created a 1458 tax on sheep as wool trade made up 90% of englands infastucture.
however this made genty landowners who made their wealth from sheep farming angered
3
Q
how much did somerset manage to sell off of crown lands
A
£800,000
4
Q
what economic policies did northumberland implament to reverse the awful crown finances
A
- sold chantry lands
- succsessfuly debased the coinage
- after crown lands were all sold off had to increased crown revenue by rasing custom duties
5
Q
who did Northumberland appoint to be in charge of financial planning?
A
thomas gresham
6
Q
failures of Northumberland’s economic policy
A
population continued to increase exponetially causing inflation and madd povery
repealed the 1548 sheep tax in 1550 which angered gentry landowners
