Pitt was an extraordinary politician who possessed a remarkable ability for financial management and for administration.
The disastrous American War of Independence had drained Britain's finances and had led to a humiliating loss of face for George III.
Pitt had several advantages, the most important was the support of the monarch. Pitt was able to survive until March 1784, at which point he achieved a famous election victory, the Whigs lost a great deal of support and public sympathy.
Defeat in the American war of independence had created a major financial crisis. The national debt had risen to £242 million by 1784.
Imports and exports: in 1784 Pitt introduced two measures. A communication Act was deigned to lower the import on tea and so make smuggling less profitable, the introduction of a Hovering Act allowed smugglers' vessels to be searched up to 12 miles out to sea.
In 1785-87 duties on items such as brandy were reduced.
Taxation: Pitt realised that the best…