Elizabeth's finance Flashcards
Why was the government’s finances under strain?
-war with france
-Mary I’s died in debt
-harvests had been less productive in the late 1550s->heavier demands on provisions for the poor
-outbreak of diseases
-Elizabeth’s right to the throne was not universally recognised->she was in no position to instigate heavier taxes
What did Elizabeth realise?
-she had some assets->she inherited the Book of Rates->increased customs duties and she was fortunate with her financial advisors->realised she needed to repay her debts so she could raise loans
-realised a major and urgent issue was the debased coinage->enriched the governments of her father and brother but led to high prices
Why was it difficult for Elizabeth to exploit her sources of income?
-not totally secure on the throne
-crown lands had been reduced by sales in previous reigns
