Somerset's Economic Changes

Question 1

What policy of Henry VIII’s did Somerset continue and to what effect?

Answer 1

Debased the coinage to finance war against Scotland

• £537,000
• heightened inflationary pressures

Question 2

What heightened inflationary pressures?

Answer 2

• debasement

- poor harvest in 1548

Question 3

How did Somerset try to tackle enclosure?

Answer 3

• set up a commission
• enclosure commissioners were appointed but little was achieved apart from raising the expectations of the poor and annoying landowners

Also sheep tax (on another slide)

Question 4

What was happening to the rate of enclosure?

Answer 4

Actually slowing down, Somerset’s enclosure commission was wrong-headed

Question 5

How was the Socttish war mostly financed?

Answer 5

Land sales and borrowing - added to the long-term problems of Crown finance

Question 6

What seemed to be the main driver of enclosure?

Answer 6

Profits that could be gained from converting land from arable to pasture in order to graze large flocks of sheep

Question 7

How did Somerset try to deter enclosure?

Answer 7

Introduced a tax on sheep

Question 8

What was the consequence of the sheep tax?

Answer 8

Created huge financial pressure on small farmers in upland areas who had little choice but to rely on sheep for subsistence