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.

Britain's Chancellor of the Exchequer George Osborne is on Thursday to open bidding for £11.8 billion ($18 billion, 16.3 billion euros) in contracts to build a high-speed rail link in England.

Answer: position_held