James 1 main financial issues

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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
    • 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
    • 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

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