Scotland an English invasion, played a leading role in convincing the Scots elite to back a union with England. On 22 July 1706, the Treaty of Union was agreed between representatives of the Scots Parliament and the Parliament of England. The following year twin Acts of Union were passed by both parliaments to create the united Kingdom of Great Britain with effect from 1 May 1707 with popular opposition and anti-union riots in Edinburgh, Glasgow, and elsewhere. With trade tariffs with England now abolished, trade blossomed, especially with Colonial America. The clippers belonging to the Glasgow Tobacco Lords were the fastest
Acts of Union 1707 known as the Seven ill years which led to strained relations with England. In 1698, the Company of Scotland Trading to Africa and the Indies received a charter to raise capital through public subscription. The Company invested in the Darién scheme, an ambitious plan funded almost entirely by Scottish investors to build a colony on the Isthmus of Panama for trade with East Asia. The scheme was a disaster; the losses of over £150,000 severely impacted the Scottish commercial system. The financial losses incurred have often been suggested as one of the drivers behind Union. Deeper political integration had been