For a given price, you will get a better foreign player than an English one. That's why there are relatively few English players in the PL. For example, we could have had Carroll instead of Aguero - tough choice, eh?
If you want to see more English players, the 'system' that produces them will have to change radically, to produce players with more technical ability, and less of the attitude that you should spend your football career necking pints, starting fights and shagging birds. Or in some cases, fighting birds. (I'm not saying they're all like that - course not - but too many are.)