The advent of the highly controversial new land policy is a sign of a Government prepared to take tough decisions in the best interests of Bermuda, Home Affairs Minister has claimed.

In a lengthy address in the House of Assembly yesterday, Mr. Horton said he was "saddened and disappointed" the Opposition did not share Government's "commitment" to fighting for the rights of all Bermudians ? an impression, he said, left by the tone of their Budget Reply.

"We were elected to protect the interests of Bermuda and Bermudians, and that is exactly what we have done," he said.

"This has only been to the chagrin of those who put their own interests ahead of that of their country or their fellow Bermudians...Over the years, more and more land has gradually been sold away to non-Bermudians. It is time to turn off the tap."

Mr. Horton said the "underlying philosophy" of the new policy, which prevents Bermudians selling their houses to non Bermudians, is "to preserve undeveloped land, commercial property and the majority of the housing stock for Bermudian ownership".

"The intrusion of non-Bermudians into the protected local real estate market (by fraudulent means such as "fronting") is one of the factors which has driven up the price of even modest properties...," he said.

"...The (previous) law was recently tested in a "fronting" case and found to be so weak that a prosecution was not possible. The new policy...is to warn people that this speculation in land by unscrupulous Bermudians must stop and to put "fronts" on notice that the law will be amended to uncover "fronting" situations and punish offenders."

Opposition Leader suggestion in his Budget Reply that raising the Annual Rental Value (ARV) threshold was the answer showed that the Opposition leader "does not understand the depth of the problem" Mr. Horton argued, while he further revealed that drafting instructions for the proposed amending legislation are currently with the Attorney General's chambers.

Only Bermudians who intended to sell their houses to a non-Bermudians in the "inflated non-Bermudian market" stand to lose out under this policy, Mr. Horton continued, taking issue further with the accusation that Government had failed to consult widely before implementing the policy.

"The Government believed it was important that land speculators received no warning of the intention to place a "freeze" on Bermudians selling land to non-Bermudians," he said.

"It is probable that consultation with realtors and law firms would have tipped off the speculators who would have done all they could to get as much land sold to non-Bermudians as possible."

Mr. Horton rejected the argument that the policy "disadvantages Bermudians", suggesting that out of 25,000 households in Bermuda, only 374 houses which are above the minimum ARV of $126,000 will be in any way disadvantaged.

"The rest of Bermuda's land owners are completely unaffected," he said.

"The Honourable Grant Gibbons states that this policy does nothing...to increase the availability of affordable housing to Bermudians or to assist young Bermudians in buying their first home. He is wrong. If speculators were allowed to continue to sell off Bermuda...there will be no land left on which to build homes for our people...Some will perceive they have been hard done by. However an outcome that gives the land of this country back to its citizens is the best possible means by which the great majority of Bermuda's precious physical resource is to be protected for future generations."