Heat the oil in a medium sized saucepan and fry the onions until soft and starting to turn brown (about 5 - 7 mins).
Add the mince and cook until browned, then continue cooking for a couple of minutes, stirring frequently.
Add the carrots and the oatmeal, season with salt and pepper, and stir to combine well with the mince and onions.
Add the dried thyme, crumble in the stock cube, add the beef stock and the potatoes. Stir well, bring to boil and then turn down the heat, cover and simmer for 15 - 20 minutes.
Mix gravy powder with a little water and add to the pan when potatoes and carrots are adequately cooked. Stir to combine and allow to thicken.
Serve with crusty bread.
An alternative to using beef stock is to use 2 stock cubes (total) and 500ml of water. You might add a 1/2 teaspoon of minced garlic just before adding the mince although traditionalists will not approve.