financial policy

• Henry's revenues (value of all sales of goods and incomes) had fallen to less than £24,000 per annum compared with revenues of £90,000 under Henry IV
• wages and debts went unpaid for years leaving the Crown insolvent and lacking credit
• Edward managed to turn around the situation with credit so that London merchants were prepared to lend money to the crown
• he was granted two taxes by parliament to pay for two military campaigns. one in 1462 against Scotland and another in 1468 against the French. Edward pocketed some of the money raised which angered taxpayers
• the royal tests were another source of income but the income wasn't as large as it should be
• Edward spent a lot of money on making everything look nice
• from 1461 a special administration was set up that visited the crown estates to ensure they were properly surveyed and all incomes were paid to the crown
• He needed to expand England’s interests abroad and prevent invasion to have successful foreign policy
• France supported Henry Tudor instead of him