Not correct and I don't know where you get those prices from. OFCOM has regulated termination charges (http://stakeholders.ofcom.org.uk/consultations/mtr/statement) in the UK. Right now they are at 0.8p/min but it is likely they are going to rule to drop them to below 0.5p/min.
Edit: these are wholesale prices, so there will be some overheads for whoever provides it to end users, but the crazy termination fees in the UK are long gone.