Combine salt, pepper, and flour. Spread flour in a dish or on a piece of parchment paper and toss stew meat in the flour mixture to coat it on all sides.
Heat oil over medium heat in a large Dutch oven or stock pot. Brown stew meat on all sides (about 5 minutes). Brown the meat in batches so that the pieces are not overcrowded in the pot.
Remove meat from the pot and set aside.
Add additional oil if needed. Add onion and garlic to the pot and saute for 3-5 minutes, or just until onions begin to soften and caramelize around the edges. Do not burn the garlic.
Add the potatoes and carrots to the pot over the onion and garlic. Add the meat back into the pot over the other ingredients.
Pour beer and beef broth over the meat. Add Worchestire sauce, tomato paste, bay leaves and 2 sprigs of thyme. Stir.
Bring stew to a boil. Reduce heat and cover with a lid. Cook for about 2 hours over low heat. Stir occasionally to keep the stew from sticking to the bottom of the pot.
After 2 hours, remove the lid and continue simmering until the liquid has reduced down to your desired consistency and meat is fork-tender.
Notes
Keep the vegetables and potatoes in large chunks so that they hold up to the lengthy cook time.
Store in the refrigerator for up to 4 days in a sealed container or freeze for up to 3 months.