Government debt is balanced by private sector surplus since the pounds (or dollars) have to go someplace. Reversing this will drain wealth from the private sector, driving up borrowing costs and increasing the amount of debt service paid by businesses. They will need to cut costs by laying off workers thus reducing the national GDP and growth. Eventually, this leads to a recession and a lot of needless hardship on the part of working people. The resulting higher interest rates will make buying homes and cars much more expensive for those who live on a paycheck.
The real beneficiaries of QT are the older, wealthier folks who have savings and can earn higher incomes from the high interest rates on their government bonds.
“Reversing this will drain wealth from the private sector...”
That “wealth” was simply printed money with no increased productivity to back it. So there was no actual increase in real wealth, just the usual currency debasement under another name.