I'm going to outline a couple of reasons why the government opposes this amendment as well.
Basically, if I were to summarize it, the timeline doesn't work. Also, what Mr. Kelly said is not true. We did not say this solves the housing crisis. The grace period for RRSP homebuyers' plan withdrawals is being extended from two years to five years for participants making a first withdrawal between January 1, 2026, and December 31, 2028. That's good news for individuals who have made those withdrawals or will make them within that time period. This extends the repayment period.
The government has been very clear about the cost of this fiscal measure. It's estimated to be $42 million over the period from 2028-29 to 2030-31. Within that two-year period, it's going to cost $42 million. The Conservatives have the information they're looking for. Granted, it's an estimate for the cost of that measure.
Basically, the information will not be available in the timeline that's set out in the amendment. For that reason, we oppose it.