At last I made the spacer!
I held the stock in a 4 jaw chuck and series drilled through the centre ending up with a 3/4" blacksmith drill. I then opened out to 20mm with a boring bar,
I was amazed with quality of finish with such a long extension of the boring bar. The above photo shows this. It also shows the spindle for which the spacer is being made. I measured the angle of the taper as 5 degrees and set the compound over at this angle. Having reduced the overhang of the boring bar I then bored the 30mm short parallel.
To bore the taper I extended the boring bar and set it in line with the spindle axis. With the compound slide wound well back I then advanced the cross slide to the bed stop, wound the boring bar in on the compound until it nearly touched the shoulder of the 30 mm bore. Having measured the length of the taper I then marked the compound slide with the length as below.
I then bored the taper winding the compound slide in by hand. Running at 500 rpm it took 0.5 mm cuts quite happily producing blued steel chips and giving a good finish.
To turn the external taper I made a plug for the 20mm bore that the was supported with a revolving tailstock centre.
Again turning at 500 rpm with a 0.5 mm cut.
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This what the finished assembly looks like, well, it will be improved with a bit of Scotchbrite.
In the end it was a lot easier than I anticipated thanks to everyone's advice.
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Edited By ANDY CAWLEY on 16/12/2018 13:47:02