Cheers chaps, it's an induction motor according to the plate on it, 550W, 57 amp??? power rating 3/4 HP fuse rating 13 amps. Its not one of the variable speed ones.
http://www.machinemart.co.uk/shop/produ ... etal-lathe
The power supply to it is a 3 amp fused spur off the ring main, internally sub spurred from within the back box via armoured underground cable to the workshop, maybe 12 feet long. The original plan was that I would only ever need a pillar drill and band saw in addition to two 30 watt 3ft strip lights in there.
Thanks Marky, This is the culprit then:

Can it be swapped for the C type that you suggest?
I have this in my conservatory which is quite close to the workshop - would there be any benefit running the lathe from this via a short extension lead, or could that just be a similar thing to what I have in the fuse box?
The house is about 20 years old so it could be that the consumer unit is obsolete and the required component is unavailable. If the likelyhood of getting a C type is out of the question would there be some kind of transformer that sort of stores enough electricery in coils or whatever to smooth the whump?