He he
That's the emergency lift cable for the headlights - it is probably broken long ago! It's attached to the bottom of the lever to lift the headlights on the left side of the car. While Roy has fitted a new cable on my car, which means that mine works properly, I don't find it particularly useful as:
1. It's difficult to find under the column
2. If you find it, it takes a good deal of pulling strength to get the headlights fully up
3. When you need it, it's because your vacuum hose has broke. By the time that has happened, chances are that the cable is gone too
- Anders