WHO has and hasn’t benefited during Labour’s reign is open to debate, but a consensus already exists that says the PR industry has been a major beneficiary.

So, too, has the advertising sector, with hundreds of millions pumped in to campaigns largely, it seems, designed to tell us how to live our lives.

But, whatever the outcome of the general election, it seems clear that change is on its way and the denizens of Soho, Ropewalks and the Northern Quarter need to work out what it means for them . . . and fast.

First on their list of issues is where the axe will fall. With Alistair Darling freely admitting that cuts in government expenditure will be tougher than anything Maggie delivered, if your business model has “public sector” running through it, then it’s time to re-jig your sales activity. Both main parties, after all, agree that cuts must follow.

But aside from the obvious financial implications of life post-election, there’s the more subtle philosophical agenda to try and anticipate. What’s the Tories’ view of “spin” and how does it differ from Labour? And will they be as generous with the public purse?

The answer, I suppose, lies with how conservative they are. Boris Johnson’s tenure at City Hall, in London, offers some clues: he slashed the marketing and communications team from day one. As a journalist, he knows good policy and clearly articulated arguments from powerful politicians will garner free publicity in any event.

Politically, we’re an easy target, of course. While Labour enhanced the profile of our industry, it’s fair to say that they brought it in to disrepute, too. “Spin” has become highly pejorative.

So, bringing pain to blokes in wire-rimmed glasses is never going to upset the electorate and when there’s £1.4trillion of debt to pay down you start with the most politically acceptable cuts first and then work backwards.

That said, assuming a Conservative majority, will they be able to resist the temptation of adopting the same large-scale comms infrastructure that Labour has used so ruthlessly to protect and promote its political agenda?

And what of a hung Parliament? If a coalition rides in to Downing Street it’s an absolute dead cert, in my book, that the last cut they’ll make is the one to do with promoting their agenda. There may be another election to fight within 18 months, after all.

But we’re talking top-table budgets here: the ones that get carved up in London and largely stay there. Up in the frozen North, the marketing crumbs are more modest and delegated down to organisational level, where axes are already being sharpened.

So we’re in for a rough ride and a betting man would say that some industry consolidation might be necessary to help agencies get through it.

Life after May 6 is sure to be anything but dull.