Economy of Scotland Economy of Scotland The economy of Scotland had an estimated nominal gross domestic product (GDP) of up to £152 billion in 2015. Since the Acts of Union 1707, Scotland's economy has been closely aligned with the economy of the rest of the United Kingdom (UK) and England has historically been its main trading partner. Scotland still conducts the majority of its trade within the UK: in 2014, Scotland's exports totalled £76 billion, of which £48.5 billion (64%) was with constituent nations of the UK, £11.6 billion with the rest of the European Union (EU), and £15.2 billion with other parts
House of Commons of the United Kingdom House of Lords has been severely curtailed by statute and by practice, the House of Commons is clearly the more powerful chamber of Parliament. The British Parliament of today largely descends, in practice, from the Parliament of England, although the 1706 Treaty of Union, and the Acts of Union that ratified the Treaty, created a new Parliament of Great Britain to replace the Parliament of England and the Parliament of Scotland, with the addition of 45 MPs and sixteen Peers to represent Scotland. Later still the Acts of Union 1800 brought about the abolition of the Parliament of Ireland and