Traditional Revenue Collection techniques

Question 1

Tax

Answer 1

King could place a tax or levy on people’s goods or property, easier to collect if King was trusted
Parliament had to Gove consent for tax

Question 2

Custom dues

Answer 2

eg Tax on things imported into the country
Profits depended on trade

Long term weaknesses in economy saw Edward increasingly use private resources to generate income

Question 3

Ordinary revenue

Answer 3

Church
Clerical tenths
Crown lands
Custom dues

Question 4

Extraordinary Revenue

Answer 4

Not guaranteed revenue
War taxation
Benevolences

Question 5

Why were finances such a concern for Edward

Answer 5

Crown in debt £372,000 by 1450
Hard to repay, royal expenditure was £50,000
Austerity was attempted but difficult for Edward who expected to live lavishly
Outdated: economy traditionally managed by exchequer