Financial Issue

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  • Created by: 10simso
  • Created on: 20-04-16 09:10
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  • James' Financial Difficulties
    • Too little income, too great expenditure
    • Debt
      • £420,000
      • £300,000 grant to b e made by Parliament
      • £100,000 owed to landowners - had given up hope
      • expected payment from France
    • subsidies - main P. tax
      • irregular + only for emergencies
      • amount brought in decreased by nearly half since 1558
        • commissioners didn't demand full payment (tax payers not likely to reverse this)
    • Inflation
    • Extravagance and generosity
      • insecure
      • gave lavish gifts and money to friends
      • fond of jewels
      • expanded the royal household staff
      • lavish entertainment
      • family
        • lavish spenders too
        • daughter's wedding
      • hid the real issue of lack of income from MPs
    • lack of income

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