James 1 main financial issues
- Created by: Chloe Collier
- Created on: 15-05-13 00:31
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- James 1 financial issues
- Queen Elizabeth
- Inherited an approximate debt of £100,000
- War with Spain
- Left an increased inflation rate
- No husband or children = Less expenses
- Inherited an approximate debt of £100,000
- No financial stability
- Great Contract - proposed by Robert Cecil
- all debt paid off plus a parliamentary grant of £200,000
- James to give up some taxation rights
- Never implimented
- Parliament afraid of giving James too much financial independance
- James afraid of loosing control of his more powerful subjects
- all debt paid off plus a parliamentary grant of £200,000
- Great Contract - proposed by Robert Cecil
- Idiocy and irresponsibility
- Greatly overestimated the wealth of England
- Often gave large sums of money to Scottish earls
- Often played favourites
- Run up a huge living expense
- Big family
- ostentatious and extravagant
- Queen Elizabeth
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