The aim of this paper is to present the procedures and key issues in the debate on the Multi-annual Financial Framework (MFF) of the European Union after 2013. The new conditions introduced by the Treaty of Lisbon are discussed. These are the changes that have financial consequences for the EU (e.g. the creation of the European External Action Service), but also changes in the decision-making procedure, which are important for the European Parliament's role in shaping both the multi-annual and annual budgets. In addition, the main topics of the Parliament's position are analyzed, such as the political priorities, the concept of European Added Value, duration and structure of the MFF, the size of the budget and reform of the EU's own resources. The article describes the state of the debate at the end of May 2011, i.e. after the presentation of the EP's priorities, but before submitting a legislative proposal by the European Commission.