Financial Policies during Personal Rule
- Created by: Lizz2002
- Created on: 03-11-20 14:01
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- Financial Policies during Personal Rule
- Spending less
- Made peace with Spain and France - no war costs
- Reduced lavish gifts to courtiers
- Regular audits to reduce waste
- Raising more
- Book of Rates to increase custom duties
- Revived old laws like Forest laws and Distraint of knighthood to issue more fines
- Yield from Wardships, recusancy fines, and crown land rent were increased
- More monopolies were sold
- Ship money extended to the entire country
- How successful were the policies?
- By 1636, Charles had reduced his debt by half, and was living within his means
- However, this was due to Charles having no wars to fund
- Charles extended ship money in an attempt to build a fleet to take back the Palatinate
- His family was also growing, and Charles had a large art collection
- Impact of the Policies
- Some means were viewed as illegal - e.g tonnage and poundage without parliamentary permission
- Reviving old laws seemed unfair and angered taxpayers
- Roman Catholics (who usually supported the crown) were angry at the higher recusancy fines
- Landowners were annoyed at the higher rent and wardship fees
- Monopolies raised prices for consumers
- Ship money was not a regular tax, and many thought it was not justified
- There was no one to oppose Charles, but the growing resentment was dangerous if he called parliament again
- Spending less
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