Austrian coalition plans steps to head off EU deficit clash

VIENNA, Feb 27 (Reuters) - The three centrist parties planning to form a governing coalition in Austria on Thursday set out their plans to avoid facing a European Union procedure for running an excess budget deficit, with measures including an increased levy on banks.

The coalition programme presented by the parties envisaged increasing an existing banking levy so that it brings in 500 million euros ($524 million) annually in 2025 and 2026 and extending a windfall tax on power firms to bring in 200 million euros a year.

($1 = 0.9540 euros)