French Wars: Economy And Finance Flashcards
When were the French wars?
1793-1815
How did the French wars put financial strain on Britain’s economy?
Increase in national debt:
•1793 - national debt £240million
•End of wars - £830 million
When was the income tax introduced by William Pitt the Younger and what did it do?
• 1799
• Levied at a rate of 10% on incomes over £60 per year to fund war
• major innovation in British policy
• meant to be temporary, but reinstated several times throughout 19th century
When was Window tax introduced and what did it do?
• 1696 - 1851
• Tax was charged based on number of windows on a property
• Unpopular, upper and middle classes would brick up their windows to avoid paying
What was the tax on dogs and when was it introduced?
• 1796-1797
• levied a tax on dogs owned by individuals
• affected upper classes and aristocracy who owned hunting dogs
• illustrated unconventional ways government attained revenue during French Wars
How was trade disrupted and thrive during the French Wars?
• Britain combatted disruption by using its naval dominance to secure trade routes to colonies
• Despite European markets being closed off by Napoleon’s continental system, the East India Company thrived by maintaining access to Asian markets and found new markets in South America
What was Napoleon’s continental system?
Countries in Europe were prevented from trading to Britain by Napoleon
Taxes were introduced on how many items?
21
How much did the economy grow annually?
6%
