Financial Policies during Personal Rule

?
  • Created by: Lizz2002
  • Created on: 03-11-20 14:01
View mindmap
  • 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

Comments

No comments have yet been made

Similar History resources:

See all History resources »See all British monarchy - Tudors and Stuarts resources »