Financial management, the domestic economy and overseas trade (ordinary revenue)

Financial management, the domestic economy and overseas trade.

Ordinary revenue

The kin was expected to 'live his own life'- This meant had to pay the day to day expenses for government from his regular income.
He went to great deal to appoint administrators who would ensure these sources of ordinary reveune were efficiently managed.

Custom duties (These were Granted by Parliament for life)
H took care to increase this source of income by cracking down on corrupt officials, and by twice updating the Book of Rates of Custom Duties.
(Outcome)Historians estimate that custom duties rose from £33000 to £40000pa. This growth was due to the recovery in trade after the late medieval depression

Crown lands (These were the kings most impt. source of revenue)
H had more lands than previous monarchs. Some land was confiscated under the Acts of Attainder, others were reclaimed after the Act of Resumotion.
(Outcome)Bray developed techniques for estate management. The King's annual income from his royal estates rose:
1486:£12000
1508:£42000
Land revenue was inflated after 1503 partly as H did not have to grand lants to his queen…