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Henry VI

When Henry V died in 1422, his nine-month-old son succeeded him as Henry VI of England. During the minority of Henry VI the war caused political division among his Plantagenet uncles, Bedford, Humphrey of Lancaster, 1st Duke of Gloucester, and Cardinal Beaufort. Humphrey's wife was accused of treasonable necromancy after two astrologers in her employ unwisely, if honestly, predicted a serious illness would endanger Henry VI's life, and Humphrey was later arrested and died in prison.

Depopulation stemming from the Black Death led to increased wages, static food costs and a resulting improvement in the standard of living for the peasantry. However, under Henry misgovernment and harvest failures depressed the English economy to a pitiful state known as the Great Slump. The economy was in ruins by 1450, a consequence of the loss of France, piracy in the channel and poor trading relations with the Hanseatic League. The economic slowdown began in the 1430s in the north of the country, spreading south in the 1440s, with the economy not recovering until the 1480s.

It was also driven by multiple harvest failures in the 1430s and disease amongst livestock, which drove up the price of food and damaged the wider economy. Certain groups were particularly badly affected: cloth exports fell by 35 per cent in just four years at the end of the 1440s, collapsing by up to 90 per cent in some parts of the South-West. The Crown's debts reached £372,000, Henry's deficit was £20,000 per annum, and tax revenues were half those of his father.