George is the one with hair. Edward was hair challenged.
You can find lots of information online (including here) if you search for "commercial overprint". The best resource I've found is the Commercial Overprint Society of Great Britain, at
http://www.cosgb.org/ Their listings show that yours is the first of four different overprints used over time for Cardiff Corporation.
I believe these were generally used on receipts, perhaps in this example when you paid your electric bill? The 2d tax was eliminated in 1971.