Wolsey- the 'Tudor subsidy'

What was expected of taxpayers in H7 reign?

Provide extraordinary revenues when required

What change did Wolsey make to subsidies in 1523?

The way they were collected- set up a national committee he headed instead of using local commissioners to assess taxpayer’s wealth

What was the effect of this change?

Raised more extraordinary revenue as it had a more direct/ realistic assessment of the wealth of taxpayers

What was the problem with the money raised?

Insufficient amount- war too expensive

What did this problem lead to Wolsey raising in 1525?

Amicable Grant

Why did H8 have a subsidy in 1523?

Raise money for war with France

What was H8 normal income per year?

£110,000

What problems did the existing system of direct taxation have?

Calculations were based on values from 200 years earlier

How did Wolsey improve the tax system?

Basing it on a person’s income and sent commissioners to reassess their values

How much did the subsidies raise?

£170,000 between 1513 and 1616 compared to £90,000 before

How much did H8 spend on war between 1511 and 21?

£1.4 million

What did the failure of the Amicable Grant start?

Downfall of Wolsey

Why was the Amicable Grant an unparliamentary taxation?

Wolsey decided to introduce a new direct tax to raise money for the war with France but didn’t get approval from Parliament.