Utilize the input text as a context reference, choose the right relationship between George Osborne and Chancellor of the Exchequer from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

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.

Answer: position_held