Mary I Economic Changes

• What issues increased inflation?

  Increasing population, debasement of the coinage, Harvest failures in 1555 and 1556 and the impact of disease 'sweating sickness' (1557 and 1558)
• What financial reforms were made?

  The court of Exchequer took over the Court of First Fruits and Tenths and the Court of Agumentations
• What was one major mistake Mary made financially?

  She remitted the final part of Edward's last subsidy, which bought her cheap popularity but at financial cost
• How successful were Crown finances?

  They were secure in the long term due to plans for recoinage which were drawn up between 1556 and 1558
• What were the limitations of Mary's financial reforms?

  Elizabeth was the one who benefited from them
• How did Elizabeth benefit from Mary?

  The thorough preparation of the plan to stop debasement of the coinage meant Elizabeth was able to implement it efficiently
• What other financial reform did Elizabeth benefit from?

  The Book of Rates in 1558 which raised custom revenue significantly
• Why did Mary implement poor relief?

  1556-1558 the country was going through high mortality due to the influenza, the harvests were failing and taxation was high to pay for the war with France
• What did the poor relief do?

  Put laws on grain hoarders and encouraged the conversion of pasture land to tillage