Combine the flour, salt, pepper, and thyme in a medium bowl. Add the beef chuck and toss until well coated. Heat a large dutch oven medium heat and add one tablespoon of canola oil. Add a single layer of the beef, do not overcrowd the dutch oven. Brown all sides of the meat. Remove and transfer to a plate. Add additional canola oil if needed and continue this process until all the beef has been browned.

Add another tablespoon of canola oil to the dutch oven. Put in the onions and cook until softened, about 5 to 8 minutes. Add the garlic and another 2 minutes. Mix in the brown sugar and tomato paste until well combined with the onions.

Toss in the carrots and parsnips and cook for another 2 minutes. Add the beef back to the dutch oven and stir together. Mix in the beef broth, stout, and worcestershire sauce. Stir until the tomato paste has incorporated with the rest of the liquid. Add bay leaves. Bring to a boil. Reduce heat, cover with a lid, and simmer for two hours.

Add the potatoes, cover, and cook for another 30 minutes, until the potatoes are tender. In a small bowl, combine cornstarch and water. Remove the bay leaves from the dutch oven and add the cornstarch slurry. Mix until the sauce begins to thicken. Can be served as is or on top of a portion of cooked egg noodles.