A sovereign and free, competitive and sustainable Europe requires a fundamental modernisation of the EU. The EU budget and the Multiannual Financial Framework (MFF) for the years 2028 to 2034 are central to this. At the preparatory workshop of the European Parliament's Committee on Budgets on 7 November 2024, Michael Thöne outlines in his contribution which reforms on the expenditure side can strengthen the EU's original European tasks, where the revenues for this should come from and how the MFF needs to be structurally modernised in this process.