Mr Moore has described Dodgem Logic as “the 21st century’s first underground magazine from my home town of Northampton” and will be published by Knockabout, the UK publishers of The League Of Extraordinary Gentlemen: Century.

Dodgem Logic will use Northampton-based talent as well as “numerous friends and co-conspirators from comic books, the arts or entertainment” including Kevin O’Neill, Edward Pouncey, Graham Linehan, Josie Long, Steve Aylett, Dave Hamilton and Melinda Gebbie.

A 40-page colour magazine, further described by Mr Moore as providing “a splash of sub-terranean exotica in a bleached-out cultural and social landscape” it will have an eight-page section devoted to local Northampton interest.

The intention is to invite other areas to publish their own versions by adding their own local inserts.

And the first issue comes with a free CD full of Northampton music over 50 years.

Using his distinctive brand of outrageous but tongue-in-cheek humour, Mr Moore indicated that the new publication would be appropriate to the perilous economic situation the town finds itself in.

He said: “Northampton is a community that is right at the geographical, political and economic heart of the country; one which has half its high street boarded up and is at present dying on its ****, just like everywhere else.

He added: “As cheap and beautiful as a heartbreaking teenage prostitute, Dodgem Logic has a cover price of £2.50, with its content similarly tailored to the fiscal toilet-bowl that we are currently engaged in sliding down.”

Dodgem Logic will include recessionary-conscious columns from cheap recipes, medical advice, cheap clothing creation, “guerilla gardening” and living without money.

Mr Moore will be contributing a lead feature on the history of underground subversive publishing from its origins in the 13th century, along with various illustrations and words of advice.