History of England Parliamentary Acts passed by both parliaments in 1707, which dissolved them in order to form a Kingdom of Great Britain governed by a unified Parliament of Great Britain according to the Treaty of Union. The Acts joined the Kingdom of England and the Kingdom of Scotland (previously separate states, with separate legislatures but with the same monarch) into a single Kingdom of Great Britain. The two countries had shared a monarch since the Union of the Crowns in 1603, when King James VI of Scotland inherited the English throne from his double first cousin twice removed, Queen Elizabeth I. Although
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