A-Level Notes > Stratford Upon Avon Grammar School For Girls A-Level Notes > AQA History AS - 1B: Britain, 1483-1529 Notes

Henry Vii's Financial Policy Notes

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Henry Vii's Financial Policy Revision

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Henry VII's Financial Policy

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! Henry did not inherit anything -­‐ poor financial situation
! Needs money to keep the support of the nobles and to protect against pretenders

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By 1509 -­‐ leaves the throne solvent for his son
Henry realises the power of money => unpopularity
Money is a way of gaining loyalty
Will Henry VII's financial changes last?

! Francis Bacon -­‐ 'he coveted to accumulate treasure'


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! Did not create any new sources of revenue

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‣ Exploited existing revenues in a more determined and systematic way than his
predecessors

Royal Lands
! Greatest landed estate of any King since William I
‣ Rents -­‐ annual income increased from £12,000 in 1485 to £40,000 by 1509
Systematic exploitation of rents
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! Increase in royal lands
‣ Attained from Bosworth and Warwick's lands
‣ 138 attainders during Henry's reign
‣ 1495 -­‐ heir to Jasper Tudor's estates
‣ 1502 -­‐ death of Arthur => land reverted to the Crown providing an additional
£6,000 a year


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Feudal Dues
! Exploited with increased efficiency
! 1501 -­‐ all large landowners were now legally tenants-­‐in-­‐chief
‣ This widened the number of deaths to be exploited by Henry
1503 -­‐ Henry created the post of Master of
Wards
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‣ Ensured wardships were being properly exploited
! 1508 -­‐ new official, Surveyor of the King's Prerogative
‣ Job to discover where the King's special rights had been infringed
- Formalised what Empson and Dudley had been doing

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Parliamentary Grants
! Traditional grants were the Fifteenth and Tenth
‣ Tax assessed as a fixed sum on each community
‣ Usually brought in about £30,000
! For the purpose of security at home and during war
‣ 8 were granted during the reign
‣ Henry played on people's fears

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