Tudor Economics

Events

The Navigation Act

1485

English merchant ships forbidden from loading goods onto foreign ships if English ships were available.

Treaty of Medina del Campo

1489

Mutual reduction of tariffs between Spain and England

Treaty with Florence

1490

England would import wool to Europe. At the same time, sale of wool to Venice was restricted. This caused Venice to lift import duties on English goods.

Treaty of Etaples

1492

Warming of trade relations between England and France.

Magnus Intercursus

1496

Treaty to end trade embargo between the Netherlands and England.

The Great Debasement

1544

Henry VIII begins to debase the currency to create fiscal profit, in order to launch an invasion against the French.

The Vagrancy Act

1547

The Duke of Somerset introduced the Vagrancy Act. This stated that any able-bodied person who was out of work for more than three days should be branded with a V and sold into slavery for two years. Other offences by the same individual would lead to a life of slavery. Many local authorities refused to enact this harsh legislation.

Poor harvest

1548

Enclosure Commission

1548

The Duke of Somerset sought to reduce the amount of land being enclosed, however the commission failed to have any real effect.