Policies under Northumberland

What problems did Northumberland face with foreign policy

The occupation of Boulogne was a constant drain on resources

what action did Northumberland take with foreign policy

Returned Boulogne to the French but continued expenditure on the navy & fortifications continued

Northumberland reduced foreign policy expenditure to …

help stabilise the crown’s finances

The loss of Boulogne proved a…

humiliating defeat

how much did the French pay to recover Boulonge

£133,333

Financial gain was reinforced by the abandonment of the …

remaining English garrisons in Scotland

what problems did Northumberland face with economy & finance

Inherited a dire financial situation

Northumberland showed a determination to restore..

crown finance

… was appointed Lord Treasurer 1550 with the task of reforming finances.

Marquis of Winchester

Marquis of Winchester was appointed …

Lord Treasurer 1550 with the task of reforming finances

The Government’s plans (1551) were to…

end debasement, reduce expenditure, and to end Edward’s debt

When did Northumberland debase the coinage?

1550

when was the decision taken to end debasement

April 1551

Reductions were ordered in….expenditure

military & household

Northumberland continued…to be rid of debt

sale of crown & chantry lands

the debts to the Antwerp market were paid off in…

two years

in 1550 debts were …. at their worst, by 1553 they were reduced to …

£300,000

£180,000

what was the impact of selling crown & chantry lands

they no longer contributed to the Crown’s ordinary income

how did Northumberland succeed with the Antwerp debts

Antwerp debts were paid off and loans were renegotiated at 12% interest, whereas the HRE was borrowing at 16%

Northumberland improved…

the government's position significantly

Northumberland ended …

debasement

Northumberland did not restore…

full confidence in the currency

Northumberland substantially reduced…

gov expenditure

Northumberland weakened…

government's long-term financial position in the process of reducing debt

Northumberland did not continue Somerset’s…

anti-enclosure measures

the unpopular sheep tax was repealed ...

1550

The unpopular 1547 Vagrancy Act was ...

repealed

By 1551 Northumberland’s gov had taken actions to..

control stocks of grain to relieve the crisis caused by the harvest failures

how did Northumberland keep control of society

Introduced new Treason Laws 1550 & used Lords Lieutenants & the retainers of trusted nobles to keep order.