From a mechanical point of view and at first glance, there is no cost to the government, since the tax deduction applies when the money is saved and deposited into an RRSP. Withdrawing an amount from an RRSP and using it for a home buyer's plan would not cost the government anything. On the contrary, there would be a cost to the taxpayer if the money were not repaid on time according to the repayment schedule.
We are proposing that children be given access to funds that are already available, that their parents have saved in an RRSP, for which the parents have already received tax deductions, and that the children repay the money to their parents' RRSP in accordance with the applicable standards of the home buyer's plan.