Heat the olive oil in a Dutch oven over medium-high heat. Add the beef cubes and brown on all sides, then remove the meat to a plate.
Lower the heat to medium and add the onion to the Dutch oven. Cook for 5 minutes until softened. Stir in the garlic and cook for 1 minute more.
Return the beef to the pot. Add the carrots, parsnips, rutabaga, and potatoes. Stir in the tomato paste until everything is coated.
Pour in the ale and beef broth. Add the thyme, bay leaves, salt, and pepper. Bring the mixture to a simmer.
Cover the Dutch oven and cook on low heat for 2 hours, stirring once or twice, until the beef is fork-tender and the vegetables are soft.
Remove the bay leaves. Sprinkle with fresh parsley before serving.