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Bought one of these from Aldi last Thursday, it is variable speed. Very impressed with it for £130! The only thing not to like is the handle especially if you want to use the full 100mm stroke.

I bought the Axi 305 earlier this year, it's a fantastic little lathe, but you'll end up buying a chuck and other accessories before you know it you'll have spent a fortune! I found that with it being bench mounted it was at an awkward height to use comfortably for me, so I bought a mitresaw...