MEPs propose setting the 2028-2034 EU budget at 1.27% of EU GNI, excluding debt repayment costs. They emphasize safeguarding cohesion and agriculture funding while introducing new revenue sources generating around €60 billion annually. The budget increase, around 10% higher than the Commission's proposal, aims to support EU priorities and strategic objectives. The budget should remain an investment tool, opposing re-nationalization and promoting distinct funding for key programs. Transparency, accountability, and democratic oversight must be maintained, and new revenue sources are crucial to repay the recovery fund.