It was the day many people in Lowestoft thought they would never see.

Eastern Daily Press: Prime Minister David Cameron with Waveney MP Peter Aldous on a visit to Lowestoft last year. Mr Cameron has now confirmed there will be funding for the third crossing.Prime Minister David Cameron with Waveney MP Peter Aldous on a visit to Lowestoft last year. Mr Cameron has now confirmed there will be funding for the third crossing. (Image: ©archant2015)

But now the government has finally confirmed it will provide funding for the much sought-after third crossing that the town has been campaigning for over the last 80 years.

Prime minister David Cameron said at an event in Suffolk: 'Good news for Lowestoft.

'I can confirm that tomorrow we will be ann-ouncing that this £70m investment will be going ahead.

'I've seen for myself, with my own eyes during a visit before the election, just how important this is.'

There was bad news for those hoping to see a new Wet Dock Crossing in Ipswich.

He said: 'We're still hopeful of making progress but I cannot tell you any more about that today.'

Community leaders such as Phil Aves, change manager at the Lowestoft Rising organisation working to improve the town, said it was a 'historic day for Lowestoft'.

Waveney MP Peter Aldous added: 'After many, many years, government and Whitehall have finally got the message.'

James Reeder, chairman of Lowestoft and Waveney Chamber of Commerce, said it was a 'fundamental project for the future of our town and its growth'.

He added: 'It is a momentous announcement. I think this is another boost that Lowestoft has received to give businesses confidence to expand and encourage businesses from outside to invest in Lowestoft.'

Businessman Peter Colby had called for a Dutch-style barrage system instead of the high-level bridge in a 'central' location over Lake Lothing, between Lowestoft town centre and Oulton Broad, which consultants Mouchel have suggested.

However, he said: 'I'm ever so happy to have a third crossing – it will join the two sides of the town together.'

Mark Pendlington, chairman of New Anglia Local Enterprise Partnership, said: 'This announcement gives a tremendous boost to the economy of Lowestoft.'

Waveney District Council leader Colin Law said it was 'one of the most important announcements in the history of the town'.