Can anyone id this tool for brace and bit?

[mc281]

Hi. My uncle recently passed and as we were going through his tools found this tool for his brace and bit. Can anyone tell me what it would be used for?View attachment 165314

Yep but yours has a metalworker's lathe centre drill installed. You've got two different things there.

 

[scroller frank]

plumbers called them tank cutters for cutting holes in galvanised cold water tanks for ball valves, tank connector and overflows

O yes "tank cutter " , I have used one many years ago for fitting immersion heaters ! 1960s i