Lowestoft was of course still a very small town as compared with Yarmouth. As Yarmouth was exempted from all taxes during Henry VIII.’s reign on account of the expenses of her harbour, the Subsidy Rolls do not enable us to compare the wealth of the two towns. It was stated in one of their petitions about this time that a “whole Fifteenth” would amount to £100. Beccles was also at this time a much larger town than Lowestoft. In the Subsidy Roll for the previous year (1523) the town paid £73 13s. 4d., an increased payment, it is stated, of £33 4s. on a previous assessment. Beccles was evidently a rising town at this time, as well as Lowestoft. It was about this time, that the detached tower of Beccles church was begun: its building took 40 years. On the other hand Winterton, joined with Lowestoft in the ordinance of Edward III., was already left far behind. Her contribution to the subsidy for 1524 was only £3 4s.
It was in the early part of the 15th Century that Lowestoft first possessed a market. William de la Pole, Earl of Suffolk, had succeeded John of Brittany in the ownership of the old Royal demesnes in Lothingland. He obtained a grant from Henry IV. to hold a market and two annual fairs in the town. The market was doubtless held in the “Old Market” Place, which still retains its title.