Expert: Mark Smith - 9/12/2008

Question
Please could you help.  I would like to know what Henry VIII spent his money on and why.  Also how did he get his money.
Kind Regards

Answer
Hello Simon.
In Tudor times the whole business of government was paid for by the monarch, so that along with wars and the building/strengthening of defences swallowed up much of the King's finances. Henry VIII also spent a lot on the maintenance of the Royal Palaces. He ended his reign in debt having inherited a surplus from his father.
Most of his money came from taxation, rents on Royal land and fines imposed on the nobility. The Dissolution of the Monastries after 1536 provided a welcome source of revenue as the lands formerly belonging to the Church were either added to the Royal Estate or sold off with the proceeds going to the Crown.
Henry also twice debased the coinage during his reign. He had coins made smaller and thinner with less precious metal in them to save money.
Mark