01 - Preheat oven to 320°F.
02 - Pat beef cubes dry with paper towels. Season with salt and pepper, then dust with flour.
03 - Heat 1 tbsp olive oil in a large heavy-based casserole over medium-high heat. Brown beef in batches, adding more oil as needed. Remove beef and set aside.
04 - Reduce heat to medium. Add onions, carrots, parsnips, and celery. Cook for 5 minutes until softened. Add garlic and cook for 1 minute.
05 - Stir in tomato paste, cooking for 1 minute. Return browned beef to the casserole dish.
06 - Pour in red wine and scrape browned bits from the bottom. Simmer for 2 minutes.
07 - Add beef stock, Worcestershire sauce, bay leaf, and dried thyme. Stir thoroughly.
08 - Add potato chunks. Bring to a gentle simmer, cover, then transfer casserole to oven.
09 - Bake for 2 hours, stirring once or twice during cooking, until beef is very tender and sauce is rich.
10 - Remove bay leaf. Adjust seasoning with salt and pepper. Garnish with chopped parsley and serve.