He is quoted as saying:
I am not Catholic as such but I guess the fundamentals are in place, which is Christ-based faith.[2]i assume by this he's basically saying something like "I'm Christian. I'm not Catholic. But really they're quite similar aren't they?" now i'm not sure if he's being diplomatic or ignorant, nor indeed what type of "Christian" he really is, but if he means anything along the lines of protestant/reformed/evangelical christianity, then (despite the seemingly large area of similarities) there are some serious fundamental differences between the two. perhaps the biggest being that one believes in salvation by faith PLUS works[3], and the other in salvation by faith ALONE[4], a subtle but deadly[5] difference if you get it wrong.
on a sidenote, i'm also not sure where the gospel is in the song itself. can you pick it?
though granted it's the journalist who uses the label gospel, not someone else whom one might expect to have a better grasp of what the gospel really is... anyways, for another look at the lyrics and some "theological reflection on the song by WYD08 Coordinator Bishop Anthony Fisher", check out this blog entry (this link/referral does not constitute endorsement).
[1] Guy goes gospel: Anthem moves Vatican, by Jonathan Morgan, The Sunday Mail June 24 2007 p. 29
[2] ibid
[3] http://en.wikipedia.org/wiki/Roman_Catholic_Church#Salvation
[4] http://www.carm.org/catholic/faithalone.htm
[5] http://www.carm.org/catholic/saved.htm
