Utilize the input text as a context reference, choose the right relationship between 'George Osborne' and 'Chancellor of the Exchequer' from the options.
Options: legal form, parent organization, industry, position held

Chancellor of the Exchequer George Osborne said the U.K.’s exit from loose monetary policy “is going to come” and Bank of England Governor Mark Carney has indicated that borrowing costs are set to rise.
position held