Discuss the nature and the importance of the EU budget.

The subject : The political economy of the european union, so it focuses both on economics and politics.
Discuss the nature and the importance of the EU budget. What might be the future role of the EU budget in the context of further European integration?

Structure for essay (outline):
1)How is the money raised
2)How is the money spent within the EU
3)Is the budget big enough
4)If not big enough, why not
5)What is needed to happen in the future to make it better