Heat the oil and butter in a large saucepan and cook the meat until lightly browned. Remove browned meat and set aside.
Add the onions and fry until softened. Stir in the flour and seasoning, then return the meat to the saucepan with the carrots, stout and sugar.
Stir well and bring to the boil, then cover and let simmer gently for 2 to 2 1/2 hours or until the meat is tender. Serve garnished with chopped parsley and accompanied by mashed potatoes and a green vegetable.
Alternatively, this dish can be cooked in the oven at 350*F or Mark 4 for the same length of time.