-The Crown was £300,000 in debt |(due to Mary Tudor) and had an annual income of only £286,667.
-Mary Tudor had sold off Crown lands to pay for wars with France, so the Crown's income from rents was falling.
-Elizabeth needed money to remain secure
on the throne, as she could use it to reward her supporters.
-Since the 1540s, the Crown has devalued the coinage, by reducing its silver and gold content, in order to make more money to fight wars against France. This resulted in inflation, as the value of currency fell.