Two examples of political communication in one: electioneering and culture jamming

This is political communication in both a conventional and unconventional sense.  Firstly, as a conventional election billboard poster by the Conservative Party (for the 2010 general election when they were in opposition, standing against the Labour Party who were then in power).  The original poster (below) made a political point about the deficit (public spending exceeding income from taxes) under the Labour government and made a pledge not to cut National Health Services.

This poster was defaced in various different ways, both digitally (including one that photoshopped the slogan out and replaced it with 'look at my big shiny face' - ridiculing the extent to which the photo of David Cameron had been airbrushed) and, as in this case, through graffiti on the physical poster, which was then photographed and circulated online. 

But is the grafitti political too?  It gives Cameron an Elvis quiff and sideburns, and turns his slogan into an Elvis lyric.  To me, this riddicules the slogan as populist nonsense, but what do you think?