So if I am reading this correctly, the problem is that UK students are not interested in going abroad (weak foreign language skills) and many Continental European students want to come to the UK (as almost everyone is learning English).
This means the UK has to pay more money than it receives.
But with this money, they would be ‘buying’ the chance to hold the interest of highly educated young people, who might love the British way of life and come back to work in the UK…
Sounds like just another step into economical and cultural irrelevancy.