Economic

• 1606 - Bates Case, judges approved impositions on new duties, attempt for James to pay off royal debts
• 1608 - New Book of Rates published, new duties + increased payments on others
• 1610 - Failure of the Great Contract, proposed by Robert Cecil, stated James would abandon his traditional feudal rights, attempt for James to pay off royal debts
• 1618 - Lionel Cranfield becomes Master of the Court of Wards
• November 1627 - Five Knight's Case, challenged Charles' right to impose non-parliamentary taxation, court found in the King's favour
• 7 June 1628 - Petition of Right, designed by Parliament to protect subjects from further taxation unauthorised by Parliament, unwillingly signed by Charles
• 1634 - Ship Money Tax, traditionally only paid by coastal towns for defence, extended to the whole country
• 1638 - Ship Money Tax challenged by John Hampden, lost his case, court found that only the King had the authority to impose such a tax
• 1654 - Expenditure exceeded income by £350,000
• 1654-1660 - Richard Cromwell's Parliament granted £400,000 for war with Spain + £1.4 million per year
• 1665 - The Great Plague, 70,000 deaths
• September 1666 - The Great Fire of London, speculation to have been started by the Dutch
• 1669 - Parliament refused to grant King £300,000 subsidy in response to lapsing of Conventicle Act
• 1672 - Charles forced to introduce a 'Stop the Exechequer', suspending the repayment of capital loans to government investors for 1 year
• 1670-71 - Crown's ordinary revenue totalled £840,170
• 1678-79 - Crown's ordinary revenue totalled £1,063,723
• 1685 - Crown's tax revenue totalled £1,370,750
• 1670 - Crown replaced system of 'farming out the customs' with the collection of customs duties to be paid by royal officials, enabled Crown to benefit directly from the expansion of trade
• 1689-1692 - Cost of warfare averaged £5.5 million per year
• 1702-1713 - Cost of warfare averaged £7 million per year
• March 1690 - Grant of excise duties to Crown for life + customs receipts for 4 years
• October 1690 - Parliamentary grants totalled £4.6 million
• December 1690 - Public Accounts Act, established the Public Accounts Commission to examine government income + expenditure, greater access to national resources through taxation
• November 1692 - Land Tax introduced, Parliament approved war expenditure to be over £4 million
• 1693 - Million Loan Act - William permitted to raise a loan of £1 million, guaranteed repayments out of Parliamentary taxation
• April 1694 - Bank of England established, creation of National Debt