The changing global economic order

The 2025–26 Heywood Fellowship is developing a refreshed UK strategy for navigating the changing global economic order.

Mark Carney at Davos described the global system as experiencing a "rupture, not a transition". We share this assessment. We are at a pivotal moment: uncertainty is high and the old rules, norms, institutions and power relations that made up the global economic order as we know it are shifting.

The 2026 Heywood Fellowship is focused on UK policymaking and capability. Our aim is to develop a new, national strategy for the UK to navigate that changing global economic context.

If you would like to engage with the team, please email heywood@bsg.ox.ac.uk.

This first paper from the 2025–26 Heywood fellowship sets out some building blocks for a new UK national strategy, analysing the changing global economic order as a dynamic system, shaped by both economics and politics. 

The paper considers potential challenging futures the UK might face, none of which involve a return to the previous era of (hyper) globalisation. Navigating the present and these potential ‘futures’ requires different policy choices, activities and decisions about whom we partner with. The UK needs a new approach – the status quo is not an option.

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Current Heywood Fellow

The Heywood Fellow for 2025–26 is Jenny Bates. Her career has spanned more than two decades of economic policymaking in the British government (in FCDO, BEIS and HM Treasury).

 
 

Podcast

A series of discussions about national strategy with leading academics and practitioners.

Listen to the new Heywood Fellowship podcast online and in your favourite podcasting app.

Listen now

The Heywood Lecture

In the 2025 Heywood Lecture, Lucy Smith explores what reforms are needed for the UK to practise long-term national strategy-making: to confront the biggest challenges, contest real options, and hold to collective decisions across political cycles.

Read the full text of the lecture.

The 2025 Heywood Lecture
The 2025 Heywood Lecture
About the fellowship

The Heywood Fellowship is a visiting fellowship created in memory of Jeremy Heywood, Cabinet Secretary from 2012 to 2018, to give a UK Civil Service Permanent Secretary the opportunity to explore issues relating to public service and policy outside of the immediate responsibilities of government duties. 

Jeremy Heywood – Lord Heywood of Whitehall – served as Cabinet Secretary from January 2012 to October 2018. He was also Head of the Civil Service from September 2014. Jeremy Heywood had previously served three Prime Ministers in 10 Downing Street as Principal Private Secretary to Tony Blair (1998–2003) and Permanent Secretary in Number 10 to Gordon Brown (2008–10) and to David Cameron (2010–12). In previous roles in the Civil Service, Jeremy Heywood served as Principal Private Secretary to successive Chancellors of the Exchequer, Norman Lamont (1991–3) and Kenneth Clarke (1993–4). 

Jeremy Heywood was committed to innovation in public service and to broadening the civil service so that its diversity more fully represented the citizens it serves. These priorities lie at the heart of the work of the Heywood Foundation which was established in his memory.

The Heywood Foundation and the Blavatnik School, University of Oxford, have established the Heywood Visiting Fellowship with support from the Cabinet Office. The Fellow will be associated with Hertford College, Lord Heywood’s former college.

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