The Treaty of Union had both positive and negative impacts for Scotland until 1715. Some industries benefited from the union, while others suffered from English trade competition and higher taxes.
Merchant shipping benefited through increased trade with English colonies.
Scottish merchants made their fortune in the West Indies with cotton, tobacco, rum and sugar and Highland farmers who bred black cattle became wealthy through English markets.
Modernisation
Scottish landowners learned modern English farming techniques and tenant farmers began enclosing their land.
Industrialisation and infrastructure
Due to increased trade, towns developed - Crieff and Falkirk are examples of towns which thrived as popular markets.
Increased government investment led to the creation of institutions such as the Royal Bank of Scotland.
