Final Answer:
Wolsey's declining popularity with the 1523 Parliament was primarily attributed to his heavy demands for subsidies to fund the war with France. Parliament was discontented with the magnitude of taxation and Wolsey's inability to fulfill their expectations.
Step-by-step explanation:
Wolsey's quest for funding the war effort against France brought him in conflict with the Parliament of 1523. He sought a substantial subsidy from Parliament to finance the military campaign. The demands for increased taxation were met with resistance, as the Parliament was wary of the financial strain it would impose on the populace. Wolsey's inability to secure the entirety of the desired subsidy exacerbated his standing with the Parliament, leading to dissatisfaction among its members.
The tension stemmed from the financial demands put forth by Wolsey. The Parliament was concerned about the economic implications of granting such a substantial subsidy. There was a discrepancy between Wolsey's requisition and what the Parliament was willing to concede, causing a rift between Wolsey and the Parliamentarians. This discord highlighted the friction between Wolsey's objectives and the Parliament's fiscal prudence, ultimately contributing to Wolsey's diminishing popularity.
Moreover, Wolsey's failure to negotiate effectively to secure the entirety of the subsidy he sought underscored his diminishing influence within the Parliament. The inability to meet expectations and fulfill his objectives in acquiring the necessary funds for the war effort further eroded his standing, resulting in a decline in his support and credibility within the political sphere.