How successful was Lionel Cranfield in improving royal finances?

Question 1

Successes:

Answer 1

• He took away the right to take away barely used and expensive wax candles.
• He was able to get more money out of the court of wards.
• He got the customs farmers to pay an extra £4000 a year.
• He increased impositions.
• His economics in the household, wardrobe, navy and ordinance budgets saved over £100,000 a year.
• Cut military expenditure.
• Made reductions in the pensions and gifts from the King.
• He balanced the books.

Question 2

Failures:

Answer 2

• He couldn’t stop the King spending money or reduce the royal debts.
• Problems in foreign policy ruined his achievements
  -> 1620 - defence costs tripled from 10 years earlier.
• Buckingham and Charles spent £50,000 on a trip to Madrid.