Since March 3, the west coast has experienced significant earthquakes ranging from 3.9 to 4.7.
This ongoing seismic activity is a reminder we live in a subduction zone where large earthquakes can happen any time.
Scientists recently discovered an active fault running under Elk Lake into Cordova Bay, where a 6.1 to 7.6 earthquake occurred several thousand years ago. That’s recent in geological terms and considered to be an active fault.
This should incentivize the BC government to launch a renovation rebate or tax credit to promote seismic safety.
Experts say in the next 50 years, there is a 30% chance of a damaging earthquake, and a 10% to 15% chance of a massive earthquake.
Thousands of older homes in our community require anchor bolts and other measures for protection against an inevitable, major earthquake.
A renovation rebate/tax credit could also help cover the costs of asbestos abatement, a toxic product approved years ago by the government and now costing homeowners thousands of dollars to remove.
The federal government helped install asbestos in homes through the Canadian Home Insulation Program (CHIP) offering grants for insulation such as Zonolite.
Asbestos can be found in stucco, drywall, roof shingles, window putty, vinyl floor tiles, wiring, cement, and more.
A rebate or tax credit is an ethical obligation by government as well as a responsible investment in public health and safety.
This initiative would also boost our local economy and skilled jobs, helping to counter the economic uncertainty created by U.S. President Trump’s tariffs.
The BC government recently budgeted $4 billion in contingency funds to address economic challenges created by Trump’s policies.
A rebate/tax credit requiring receipts is an efficient and effective way to support BC’s economy and employment, create tax revenue and battle the underground economy.
This solution offers seismic safety, asbestos mitigation, a more secure economy and jobs.
The time to act is now!
This column appears Wednesdays in the Times Colonist.
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