Theoretically, speed reading should improve your retention of the ideas presented in the book. I doubt it'll have any impact on your English skills, though. Most speed reading techniques, Photo Reading included, focus on skipping over non-critical text in favor of reading only that which presents the important points. That makes for less to sort through and your mind should retain the info better.
To improve your writing, you should write more. Reading at a normal pace can help familiarize you with proper syntaxes, but unless you're actually writing on a regular basis, your skills won't improve much.
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