Her policies cleared debt and provided economic prosperity
Major accomplishments of Queen Elizabeth I of England include her policies cleared the debt and provided economic prosperity.
While Elizabeth was frugal with her money, any long-term improvement in England's financial status was jeopardized by the absence of major financial reforms. Elizabeth opposed raising taxes because she believed it would alienate people who she wanted to support her. Conflict, on the other hand, costs money, and Elizabeth's war with Spain in 1585 forced her to borrow again.
When Elizabeth I ascended to the throne of England, she inherited an almost impoverished country from previous reigns.
As a result, she instituted austerity programs to reestablish budgetary prudence. Her economic prudence had freed the regime of debt by 1574, and the Crown had a £300,000 surplus ten years later. Apart from the Queen's policies, the trans-Atlantic commerce, repeated theft of Spanish wealth, and the African slave trade were all key contributors to England's economic success. Merchant Thomas Gresham established the Royal Exchange to serve as a commercial hub for the City of London. It was inaugurated on January 23, 1571, by Queen Elizabeth, who bestowed the edifice with a royal title and a license. The Royal Exchange was also crucial to the economic growth of England.
