Our estimate, based on recent contributions to the RESP program, would be that it would cost at least $565 million in forgone revenue. If it were to trigger an increase of 20% in the value of contributions, that amount would grow to close to $800 million.
In addition, since it would reduce income for tax purposes, all provinces participating in the tax collection agreement would see their revenues reduced as well. The cost to them would be in the neighbourhood of $250 million to $300 million.