finance

Question 1

Lord Treasurer

Answer 1

William Paulet - handled 75% of crown income

Question 2

rents on crown lands

Answer 2

were re-evaluated and raised. This raised around £40,000 per annum

Question 3

the exchequer

Answer 3

persued crown debtors

Sir Thomas Egerton paid back £7,497 but not all the others were repaid

Question 4

a new Book of Rates

Answer 4

which fixed the level of tax paid on products was introduced in 1558. It was badly needed as hundreds of commodities were untaxed or taxed well below the level of inflation

Question 5

customs revenues rose

Answer 5

from £29,315 to £382,797 from 1556-1559

Question 6

plans were made to reissue

Answer 6

the coinage but this did not take place until 1660

Question 7

mary’s financial record

Answer 7

was at least adequate

Question 8

historians view

Answer 8

a “considerable achievement” - David Loades

Question 9

in 1555-1556

Answer 9

heavy rain caused the worst harvest failures of the century, which resulted in the rise of prices of grain and widespread famine

Question 10

in 1556-8

Answer 10

typhus epidemics were followed by an outbreak of influenza, which killed around 20,000