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@Federal
Don't waste time with clearcoat, it's poreous and water will get in. Pour some engine oil on a rag and apply generously to the frame. Ideally should be left in the sun afterwards, but left in front of a heat lamp for half a day or so would be fine too, this allows the oil to leach into the pores of the metal and actually give decent protection. Wipe the excess and repeat the process and you should be good to go. In England rust is more or less inevitable, it's pretty much not if but when. This is pretty much your best bet.