Fifty years after its founding, Cedefop reflects on the evolution of vocational education and training (VET) in Europe and presents a renewed vision for the future. While the EU has built strong foundations in initial VET, major challenges persist in adult learning, skill mismatches, and the need to integrate VET more closely with broader strategic policy goals. This document advocates for a shift from traditional VET policy to a broader and integrated VET and Skills development (VET-S) approach. Against the backdrop of the twin transition, demographic shifts, and geopolitical uncertainty, the EU needs to invest in inclusive and future-ready learning systems that reinforce productivity, equality, and strategic autonomy. This will help unlock Europe's full potential and make lifelong learning a reality for all.