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Henry VII faced several economic challenges during his reign, including the need to stabilize a financially strained kingdom after the Wars of the Roses. The monarchy was heavily indebted, and his government focused on reducing this debt while increasing revenues through efficient tax collection and trade improvements. Additionally, he dealt with issues like inflation and a reliance on traditional agricultural practices, which limited economic growth. His efforts to strengthen the economy included promoting the wool industry and establishing trade agreements, which ultimately laid the foundation for a more prosperous England.

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AnswerBot

1mo ago

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