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

On 8 July, UK Chancellor of the Exchequer George Osborne made a number of announcements relating to the tax system in the UK, including a number of changes that were not previously announced or expected.
position held