Jason : no, I have measured it and the nuts are 9.5mm so I am assuming that they are 3/8 inch (9.5250mm). Remember, the holes for the bolts in the base of the lathe were threaded 1/4 inch. It is a strange mix of metric and imperial. Hopper looked at them too and agreed that they were not metric nuts. If I cannot get the ring end over then I will use the open end.
They could have reduced the distance between the centres slightly to accommodate an MT2 taper. I doubt that anybody is going to be using the full length of this lathe and turning something 300mm long….not without a steady anyway 
I suppose these smaller lathes are always a bit of a compromise.
Ketan : MT1 would not be so bad but it is MT1 – SHORT. There is only 25mm of taper to insert in the tailstock. It does the job I suppose but it would be nice not to have cut the ends off each time I buy dead centres, half centres, drill chuck arbors etc. It's pretty tough steel ! I would rather have it shorter between the centres and have a full MT1 or even MT2 but that is personal preference I suppose.
Good idea with the second spanner. I will remember that.
Edited By Brian John on 22/09/2015 13:54:36
Edited By Brian John on 22/09/2015 14:02:31