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: position held, parent organization, legal form, industry

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