- INFLATION= Henry had began to debase currency short term- increase in amount of money long term- inflation general: lack of confidnce in English currency effecting trade, economic instability, more poverty due to increase in population and prices
Somerset continued with Henry's economic policies
- Somerset continued selling land including chantry land
- Somerset continued to borrow money leading to debt
- Somerset did not stop England's reliance on trade, when trade market collapsed in 1549 england suffered
- Somerset garrisoning in scotland huge disaster for economy
RESULT
Somerset's refusal to reform government finances and continuation with the expensive scottish war led to a worse economy and rebellions in england
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