Challenges at home: financial weaknesses (Edexcel GCSE History): Flashcards
📚Flashcards
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Practise the cards
15 cards from this deck
When did Elizabeth I become queen?
When did Elizabeth I become queen?
1558
Total debts Elizabeth inherited
Total debts Elizabeth inherited
£300,000
Crown's annual income in 1558
Crown's annual income in 1558
£286,667
Amount owed to foreign moneylenders
Amount owed to foreign moneylenders
Over £100,000
Interest rate on foreign debts
Interest rate on foreign debts
14%
Elizabeth's financial adviser
Elizabeth's financial adviser
Thomas Gresham
When did Gresham suggest improving currency?
When did Gresham suggest improving currency?
1560
Amount Elizabeth cut royal household expenses by
Amount Elizabeth cut royal household expenses by
Half
Revenue from Crown land sales under Elizabeth
Revenue from Crown land sales under Elizabeth
£120,000
When did the Crown become debt-free?
When did the Crown become debt-free?
1574
How long to clear Crown debts (1558-1574)?
How long to clear Crown debts (1558-1574)?
16 years
What caused inflation in Tudor England?
What caused inflation in Tudor England?
Reducing silver & gold content in coins
What are customs duties?
What are customs duties?
Taxes collected on imported & exported goods
What are subsidies?
What are subsidies?
Special additional taxes approved by Parliament
Elizabeth's policy on raising taxes
Elizabeth's policy on raising taxes
Refused to raise taxes