Implement a 0.05% Financial Transaction Tax on banking transactions

A Robin Hood Tax is a Financial Transactions Tax (FTT), a Robin Hood Tax is a tiny tax of about 0.05% on transactions like stocks, bonds, foreign currency and derivatives, which could raise £250 billion a year globally. FTTs are well-tested, cheap to implement and hard to avoid.
They work on the same principle: taxing every transaction a very small amount. We think there should be a lot more of them, particularly in areas not yet taxed, like transactions of bonds and derivatives.