Acts of Union 1707 previous attempts (in 1606, 1667, and 1689) to unite the two countries by Acts of Parliament, but it was not until the early 18th century that both political establishments came to support the idea, albeit for different reasons. The Acts took effect on 1 May 1707. On this date, the Scottish Parliament and the English Parliament united to form the Parliament of Great Britain, based in the Palace of Westminster in London, the home of the English Parliament. Hence, the Acts are referred to as the Union of the Parliaments. On the Union, the historian Simon Schama said "What began
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