Take context from the input text and decide on the accurate relationship between 'George Osborne' and 'Chancellor of the Exchequer' from the options provided.
Options: industry, location of formation, position held, creator

Chancellor of the Exchequer George Osborne is preparing to sell shares in RBS as early as September, probably at a loss to the Treasury, as the government seeks to end seven years of ownership and return some of the 45.5 billion-pound bailout to taxpayers.
position held