Big Ben's tower to be renamed for Queen Elizabeth II

Boats pass by the Houses of Parliament and Big Ben during the Diamond Jubilee Thames River Pageant on June 3, 2012, in London.

/ Getty

(CBS/AP) One of London's most iconic and recognizable landmarks is getting a new name.

The Clock Tower of Britain's Parliament - widely, though incorrectly, known as Big Ben - is being renamed in honor of Queen Elizabeth II, authorities said Tuesday.

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The 315-foot-high structure will now formally be known as Elizabeth Tower following a campaign by lawmakers to mark the monarch's 60 years on the throne.

A House of Commons Commission statement said arrangements were being made for the "decision to be implemented in an appropriate manner in due course."

The tower was completed in 1858. It houses a four-faced chiming clock and the famed 13.5-ton Big Ben bell. Over the years, people began calling the whole tower Big Ben.

Prime Minister David Cameron, who backed the campaign for a change, said the new name was a "fitting tribute to the queen and the service she has given our country."

Opposition chief Ed Miliband, head of Britain's Labour Party, said the honor "rightly recognized Queen Elizabeth's lifetime of dedication and tireless service."