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

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Financial management, the domestic economy and overseas.

Extraordinary revenue

King was entitled to raise money from additional sources as one off payments when he was faced with an emergergency, or an unforeseeable expense of gov.

Parliamentary subsidies

Parliament contributed to the King's revenue by granting him a directly assessed subsidy.
A 15th was the rate of tax on the moveable goods of laymen, and a 10th was the rate of tax on the income of the clergy.
(outcome)Each subsidy yielded a total of approximately £29000. It seems that H achieved efficient tax collection.

Loans (These could be raised speedily)
Voluntary loans could be raised from richer subjects, e.g. merchants, the city of London.
(Outcome)In 1485 H raised over £10,000 in loans. He repaid these loans. Over the reign, H raised some £203,000 in loans.



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