This is the OP continuing here:
1693 -> 1493
England is raking in money from trade with India and from sugar from Carribean so fast that it has no time to scratch its arse when it itches.
Portugal never achieves its greatness, as the English have almost 100 years of presence in India and the Far East.
Other repercusions are deep and broad, will address them later. Reformation starts two decades earlier, probably with a more Calvinist bent. The CoE is more Presbyterian than people think, this being obfuscated by episcopalianism and "old style" High Church vestments like the Catholics or Orthodox use, while the Kirk is hardcore witchburning Calvinist Protestantism.
Although the timeframe, 1693 to 1493, is an error in interpretation of the first post, it is interesting to speculate upon.
It is the Britwankiest of options presented so far, because it provides Britain a two-century advantage instead of a mere one century advantage against a less prepared opposition.
For reasons of opportunism and knowledge that the decades ahead, toward 1500, are the time of Spain's illustrious rise, more so than France, I think that ISOT'ed Britain will switch from regarding France as the main rival, target, and menace to regarding Spain and the Habsburgs as the main rival, target and menace.
William and Mary's and Parliament's England and Scotland, all its Whigs and Tories, would agree that Britain should should preempt Spain's nascent expansion in the America's, using Britain's superior naval resources and technology, and its North American and Caribbean bases, to grant Britain as much a monopoly as possible over the Caribbean that Columbus has just found and reported back to Spain, as well as the "treasure-boxes" of the North American mainland like Mexico and Peru. Nor is Britain obligated to respect Portugal's monopoly over African trade, nor allow Portugal, rather than Britain, to be the first to announce to Europe the discovery and operation of the Cape trade route to India, the spice islands, and China.
Britain need not even cruelly expel Portugal from anything it owns in the 1490s, although it can whenever it really wants to, it mainly needs to preempt it in places Portugal has not gotten to yet. This could or could not include Brazil, depending on London's appetite.
To further hobble Spain, and strengthen Britain's position in the Mediterranean and eastern Atlantic, Britain could fairly easily occupy the Balearic and Canary Islands. If worried about finding a loyal settler population, the British need not spread their own English, Scots, nor Protestant Irish too far. They could find ready batches of *very* recently exiled Spanish Jews willing to settle in those areas to hold down Balearic and Canary Islands protectorates under British protection and suzerainty. If the British come to recognize the value of it down the line and have further fighting with Spain, they may similarly seize
Gibraltar. This "solution" of instrumentally using Sephardic Jews against Catholic Spain is one that could appeal to heavily Protestantized Britain of 1693, especially the Calvinist and nonconformist elements who re-legalized a Jewish presence in England under the Commonwealth and Protectorate.
In the 1588 to 1488 Elizabethan ISOT scenario, a similar option to preempt and poach up the big prizes of the Age of Discovery could present itself. With the Alhambra decrees and Jewish expulsion, even this idea of Balearic and Canaries Jewish protectorates could be tried, but it would require a greater leap of English imagination since in that age, 1588, the Jews had not yet been readmitted to England. Also, England with only a one-century advantage and no real overseas colonies could have a harder time preemptive monopolizing the extra-European world. But, it could hit the priority spots, emphasizing Caribbean, Mexico, Peru for their wealth, ensuring they get a piece of India and the spice islands, and perhaps ironically neglect the eastern seaboard of North America to not get spread too thin.
No matter when Britain comes from. (1693, 1488), and when it goes to (1593, 1493, 1488) it can work its hardest to make sure that neither Spain. nor France, nor a centralizing continental power like Austria gain secure dominant control over most of what we know as Belgium and Antwerp, and provide an independent, and Britain hopes mostly Protestant Netherlands, with more of a hinterland.