Economic history of the United Kingdom

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The economic history of the United Kingdom covers the economic development of the British state from its initial formation in 1707 following the Treaty of Union and Acts of Union that resulted in the political union of the kingdoms of England and Scotland, into a new unitary state called Great Britain. Ireland was incorporated in the United Kingdom of Great Britain and Ireland economy between 1800 and 1922; from 1922 the Irish Free State (the modern Republic of Ireland) became independent and set its own economic policy. Great Britain, and England in particular, became one of the most prosperous economic regions in the world between the late 1600s and early 1800s as a result of being the birthplace of the Industrial Revolution that began in the mid-eighteenth century. The developments brought by industrialisation resulted in Britain becoming the premier European and global economic, political, and military power for more than a century. As the first to industrialise, Britain's industrialists...

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