financial (domestic policy)

• replaced traditional fifteenths and tenths with new subsidy; accurate reflection of wealth
• act of resumption 1515= restored land given to nobles at begging of Henry 7: saved £10,000 per annum
• 1513-16 subsidy raised £170,000 (largest amount collected in the period)
• 1513-29 £325,000 in subsidised, £118,000 in 15ths and 10ths, £250,000 from loans
• John Guy 'in the mainstream of finance, Wolsey maid a permanent contribution to government'
• created resentment in ruling class
• Amicable grant of 1525 was opposed in Suffolk and East Anglia by Dukes of Norfolk, Suffolk, Laity, Nuns and clergy, taxation was never collected as 1523 tax took £200,000. This caused resentment so 10,000 marched to Lavenham
• 1523 Wolsey demanded £800,000 after the battle of Pavia, 1522 tax collected only £260,000
• crown spending was over 1.7 million in 1509-20
• income dropped from £400,000 during Henry 7 reign to £250,000 in revenue from crown lands