Attempts to reform and strengthen royal finances, 1603-1625

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1606 - Parliament granted James 3 subsidies

  • James immediately gave away £44,000 in patronage, making Parliament more reluctant to help him; however, money used for patronage did bring goodwill towards the King and contributed to political stability

1606 - Bates ruling

  • This ruling meant that the monarch did not need Parliamentary approval to charge or change imposition

1608 - Lord Robert Cecil became Lord Treasurer

  • Cecil sought to increase James' income and reduce his spending, persuading him to stop giving Crown lands away as gifts and to agree that all other gifts should be approved by Cecil
  • Neither James nor Cecil were fully committed to saving money - James quickly broke his promises

1608 - Book of Bounty compiled

  • This was a survey of all Crown lands, intended to maximise the revenue they brought in and bring leases in line with inflation
  • Attempts to do this were hindered by limited bureaucracy and James' continued gifts of land to favourites
  • The revenue from Crown lands fell from £100,000 in 1603 to £85,000 in 1619

1608 - Book of Rates compiled

  • This detailed all impositions and raised them to bring them in line with inflation
  • Impositions were added to 1400 items
  • This was very successful, raising earnings from impositions to £70,000

1610 - City

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