Finance Flashcards
When was the act of resumption
1515
What was the act of resumption + why
Returned some of the former crown land back to the crown - increase revenue
How many times was the subsidy used + when
4 times in 1513-1515 and in 1523
What was the total raised from the subsidy
£822000
Total expenditure on war (1509-1520)
£1.7 million
When was the amicable grant
1525
Why was the subsidy designed (3)
Replace the fifteenths and tenths tax
Be more flexible rather than a fixed amount
Be more realistic as it was based on more accurate valuations of people wealth and assets
What was the amicable grant
It was an additional tax that Wolsey demanded to fund the war in France
What did the amicable grant lead to
Rebellion of 20,000 men in East Anglia
Was the amicable grant successful
No
It was abandoned
What affect did the amicable grant have on Wolsey + why
Embarrassment - Henry saw the reaction to the new tax and told Wolsey to retract it
When was the eltham ordinances
1526
What were the eltham ordinances
Means of reforming the royal household and reducing expenditure
What did Wolsey do - eltham ordinances (2)
Pricy chamber was cut from 12 to 6 men
He removed the groom of the stool
Eltham ordinances - some historians say… (2)
Argue it was a political move
Way for Wolsey to strengthen his own position of influence after the failure of the amicable grant
