The Financial Policy in the 16th Century England

From the end of the 15th century to the 16th century, there arose the nation state in England centered on monarchical power, in which the feudal monarchy was being transformed into a new monarchy whose power was subject to its capacity to raise royal revenues. The English financial policy in this period sought to achieve financial independence and realize a balance between royal financial revenue and expenditure, if not a surplus. However, the royal financial measures were outmoded and achieved little, leaving behind far-reaching social and economic consequences.