There is a thoughtful post today from Shawn Tribe at NLM, The Vernacular Option for the Lessons; A Call for Discussion. At Masses offered according to the Classical Roman Rite, the readings may be proclaimed in the vernacular as Summorum Pontificum allows.
In England, I think this needs to be looked at from two perspectives. First, where there has been a practice for some time of offering Mass in the Classical form of the rite, with the readings read or sung in Latin, I think it would be unwise to change this practice and introduce vernacular readings. Better to stick with the practice of reading the English texts before the sermon or simply accepting that people have the English texts and do not need them to be read out.
However, in a parish setting, where the Classical form is being introduced, it may be a good compromise to have the readings given in English by a cleric at the same time as the celebrant is reading them in Latin quietly. It is a prejudice of modern liturgical practice to insist that only one thing can happen at any given time. I believe that the traditional liturgy offers a freedom that the modern rite does not: that of allowing the faithful to participate in various different ways, depending on their level of education, personal spiritual life, or familiarity with the liturgy. We can be united at the altar without all having to do the same thing at the same time.