Economy + finance

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Last updated 10:11 AM on 9/29/26
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10 Terms

1
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Debts Mary inherited

£180,000

Only reached £300,000 by end of her reign
Loades regarded it as a “considerable achievement”

2
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Crown lands rent

Increased

Raised 40,000 per year for Mary

3
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Book of Rates

1558

fixed amount of tax on products

Revenue from goods doubled

4
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Exchequer

Expanded - handled 75% of Crown income

Improved in efficiency

Recommended by Northumberland’s commission

5
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Northumberland’s commission

Investigate + recommend financial reforms

Exchequer controlled the Court of First Fruit and Tenths + Augmentations

Under Lord Winchester

6
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Grain prices

Increased

Famine - incomes of farmers collapsed

7
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Harvest failures

1555 +1556

Brought severe food shortages

Increased inflation

8
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Sweating sickness

1557-8

Profound case of influenza

Enormous mortality rate

9
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Recoinage

Coins revalued + debasement

10
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Edward’s subsidy

Cancelled

Cheap popularity

Led to a financial cost