Ken Livingstone's plan for a new £425 million bridge across the Thames has been backed with government cash.

Just days after being readmitted into the Labour Party, the London mayor confirmed on Friday that the government has pledged £200 million to help build the new Thames Gateway bridge to link Beckton with Thamesmead.

Livingstone was joined by London transport minister Tony McNulty who said the government fully supported the plan to build the 650-metre bridge.

Early estimates predict that the 50-metre high bridge will cost £425 million and could be completed in 2010.

Transport for London, which will oversee the project, believes part of the money could also be raised by charging a toll.

More controversially, Livingstone is also calling for some of the money currently being collected from the Dartford Crossing to help fund construction but this would need government agreement.

In a bid to cut congestion the bridge would have dedicated lanes for public transport.

The project is aimed at boosting regeneration in two of the more deprived areas in the capital, which are on opposing sides of the Thames.

Research supporting the plans predicted the new link across the Thames could directly create up to 26,000 jobs and put an extra 600,000 jobs in reach of people living in the area.

Transport for London also predicts that the bridge will cut local journey times across the river by up to 30 minutes.

Thames Gateway is a long-running urban regeneration issue aimed at bringing new jobs and housing to the Thames corridor along East London and Kent.

Livingstone also hopes the bridge will help to end the North-South divide within London.

Currently there are 27 crossings between Vauxhall and the M25 serving some of the wealthiest parts of the UK.

To the East, from Tower Bridge to Dartford, which includes some of the least prosperous areas, there are just nine bridges.

The plan would put an extra 600,000 jobs within 45 minutes of Thamesmead by car, and an extra 200,000 jobs within 45 minutes by public transport.

There is strong local support for the project; a public consultation carried out by Transport for London found 85 per cent of people in East London were in favour of the project."The Thames Gateway Bridge will provide an essential and overdue transport link for East London, helping regenerate the area, creating better access to employment and stimulating economic development. This is a vital transport project that people in East London support very strongly," said Livingstone.