Nah, it's not a budget issue - it's a squad space issue. We rate our players differently than Arteta, so we barely see the players that are there (i.e. Xhaka, Elneny, and maybe even Lokonga).
Torreira and AMN create an overload in the position, so we want to make sure we're not saddled with them when the window closes. Put another way, we are making sure that we actually work on moving them on. It's a mistake that's been made before (Saliba) and I'm sure they're not keen to make it again.
If Arteta rated Xhaka properly, we wouldn't be having this conversation.