Clearing debt Flashcards
(16 cards)
1559 subsidy act
20 February 1559
20d per pound good
8d per pound land
1563 subsidy act
Standarides
Goods £3 miminumm , land £1
1566 subsidy act
18 December 1566
-rises to 4%
1576 parliment
limited, reisst aid (by now have surplus of 300)
wentworth
Feb 8th 1576 challenges
Book of rates
29 to 89
-but only increaed to 91, doesnt match inflation
Book of rates date
May 28th 1558
-300 new iteims
crown land
86000 to 111000
tax collection
Elizabeth ranged from just 25% to 51% of independent assessment valuations, compared to an average of 68% under Henry VII
Subsidy bought in by 1576
subsidy bill, bringing in around £140,000
How many iteims custom tax
790 to 1170 and amount of tax substantially increased (sometimes to 100%)
exchuqer
1571 it emerged that several Exchequer tellers had ‘defaulted’ £44,000
Failed to adress salaries
the Exchequer now employed at least 80 people and they had a new building built at Westminster, costing around £8000 (the most expensive non-defensive building of the reign).
First Fruits and Tenths: (church income)
First Fruits and Tenths: By the early 19th century, these revenues were estimated to yield approximately £13,500 annually
Papal bull
15th feb 1570
barred from tithes and offerings
national tithe
Everyone was required to pay a 10% tithe (a tax) to fund the Church.
Recusancy fines
May 29, 1571. treason act increases
-£20
-3500 now (large amount)
