Final answer:
John Cabot, commissioned by Henry VII, led England's first significant overseas exploration in 1497 and discovered Newfoundland. His voyages set the stage for England's claims in the New World, despite the delay in colonization due to domestic issues.
Step-by-step explanation:
John Cabot, a Venetian mariner under the commission of Henry VII of England, is credited with leading England's first overseas exploration. In 1497, he set sail and discovered Newfoundland, claiming the land on behalf of England, which laid the groundwork for England's future claim to parts of North America. Although Colonization efforts were delayed due to political and religious upheavals in England, Cabot's voyages were significant in England's eventual role in the New World. Sadly, after Cabot's death and the lack of immediate financial returns, interest in further explorations waned, and more imminent issues at home took precedence over overseas expansion during the 16th century.