Simplify the following text for a Grade 12 native English-speaking person.
Original: George Gideon Oliver Osborne ( born May 23 , 1971 ) is an British politician and is the Chancellor of the Exchequer in the current coalition government .
Simplified: George Gideon Oliver Osborne , MP ( born 23 May 1971 in Paddington , London ) is a British Conservative politician .