Failure [E6 Economy]

How much did annual Crown income increase by when Somerset became regent?

Increased by £5,000

What was the total financial cost of the Scottish campaigns between 1547 and 1549?

Cost England over £580,000

How did Somerset finance the Scottish war, and what economic issue did it cause?

• Debased the coinage

• Triggered severe inflation

To what total sum had the Crown debts amassed by 1550?

Reached £300,000

Why was the sale of Crown lands a failure for long-term finance?

• Raised quick cash but limited ordinary income

• Sold lands worth £800,000

Which major 1549 rebellions were driven or triggered by tax and socio-economic factors?

• Kett Rebellion (socio-economic factors)

• Western Rebellion (opposed the Sheep Tax)

What inheritance debt did Henry VIII leave behind due to his Antwerp market failures?

Left a debt of £100,000

What major commercial disaster hit England's primary export sector in the early 1550s?

The cloth trade market completely collapsed

What desperate measures were taken regarding religious assets to pay off royal debts?

Church and monastic metals had to be melted down

What happened to domestic rents as a direct result of ongoing inflation?

Rents increased significantly

What was the specific financial cost of garrisoning troops in Scotland?

Cost Somerset over £351,000

What environmental factor added further inflationary pressures in 1548?

A very poor harvest

Why did enclosures remain a highly problematic issue for Tudor society?

Caused widespread public grievances, and Somerset offered no real solution

What political consequence did high levels of taxation have on the government?

Provoked intense hostility towards Somerset and his regime