Economy under Somerset

Question 1

What problems did inflation lead to at the end of Henry’s reign under Somerset?

Answer 1

-It resulted in a marked reduction in real wages for many people
-It increased pressure + added to social distress

Question 2

What was the impact of debasing coinage?

Answer 2

-Increased inflation
-Added to social distress

Question 3

What did Somerset do about enclosure, what was his attitude towards it?

Answer 3

-Believed enclosure was the root cause of the country’s social + economic problems
-Appointed enclosure commissioners + issued a proclamation against it.
-Little was achieved by the commissioners HOWEVER the rate of enclosure did slow.

Question 4

Why did Somerset put a tax on sheep?

Answer 4

-To create huge financial pressure on small farmers and to deter enclosure

Question 5

What was the impact of sheep tax?

Answer 5

-Caused great social discontent